Rehmann Capital Advisory Group Has $5.46 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Rehmann Capital Advisory Group grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,322 shares of the information services provider’s stock after purchasing an additional 758 shares during the period. Rehmann Capital Advisory Group’s holdings in Alphabet were worth $5,462,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Harbour Trust & Investment Management Co increased its position in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after purchasing an additional 80 shares during the last quarter. Rockbridge Capital Management LLC bought a new stake in shares of Alphabet during the 4th quarter valued at about $3,119,000. Cypress Capital LLC boosted its position in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after acquiring an additional 563 shares during the last quarter. Optivise Advisory Services LLC lifted its position in Alphabet by 8.0% in the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after buying an additional 403 shares during the last quarter. Finally, Community Bank N.A. lifted its position in Alphabet by 6.4% in the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after buying an additional 2,790 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Performance

NASDAQ GOOGL opened at $182.00 on Wednesday. The stock has a market capitalization of $2.21 trillion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.27 and a beta of 1.00. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $171.04 and a 200 day moving average of $173.13.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the business earned $1.89 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Truist Financial restated a “buy” rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, July 2nd. BNP Paribas Exane restated a “neutral” rating and set a $172.00 price target on shares of Alphabet in a report on Friday, June 27th. Roth Mkm reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. KeyCorp raised their price objective on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Finally, UBS Group set a $195.00 price target on Alphabet in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $199.82.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the transaction, the director owned 6,813 shares of the company’s stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares in the company, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 182,943 shares of company stock valued at $31,223,348 over the last quarter. 11.55% of the stock is owned by insiders.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.