1,171 Shares in Alphabet Inc. $GOOG Acquired by Bennett Associates Wealth Management

Key Points

• Bennett Associates Wealth Management acquired 1,171 shares of Alphabet Inc. ($GOOG) during Q2, valued at approximately $208,000.
• Alphabet reported a year-over-year revenue increase of 13.8%, totaling $96.43 billion, and beat analysts' expectations for earnings per share.
• The company declared a quarterly dividend of $0.21, marking an annualized payout of $0.84 with a dividend yield of 0.3%.

Bennett Associates Wealth Management acquired a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,171 shares of the information services provider's stock, valued at approximately $208,000.

Other large investors also recently made changes to their positions in the company. IFS Advisors LLC boosted its holdings in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock valued at $27,000 after buying an additional 120 shares during the last quarter. Robbins Farley boosted its holdings in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after buying an additional 60 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at approximately $26,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Alphabet in the 1st quarter valued at approximately $32,000. Finally, Goodman Advisory Group LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Down 1.3%

GOOG opened at $242.21 on Friday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $2.93 trillion, a P/E ratio of 25.79, a P/E/G ratio of 1.66 and a beta of 1.00. The stock has a fifty day moving average of $226.01 and a 200-day moving average of $189.21.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter last year, the firm earned $1.89 earnings per share. The company's revenue was up 13.8% on a year-over-year basis. On average, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 276,738 shares of company stock worth $59,135,475. Company insiders own 12.99% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on GOOG. KeyCorp set a $265.00 price target on Alphabet in a report on Wednesday, September 3rd. Jefferies Financial Group raised their price target on Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Raymond James Financial reaffirmed an "outperform" rating and set a $210.00 price target (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Phillip Securities downgraded Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $241.00.

About Alphabet

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.

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