Aaron Wealth Advisors LLC Purchases 2,163 Shares of Alphabet Inc. $GOOG

Key Points

• Aaron Wealth Advisors LLC increased its stake in Alphabet Inc. by 6.8% during the second quarter, acquiring an additional 2,163 shares and bringing its total ownership to 33,947 shares.
• Alphabet's quarterly earnings exceeded expectations, reporting $2.31 EPS and $96.43 billion in revenue, with a year-over-year revenue increase of 13.8%.
• The company declared a $0.21 quarterly dividend, representing an annualized payout of $0.84 and a yield of 0.3%.

Aaron Wealth Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,947 shares of the information services provider's stock after acquiring an additional 2,163 shares during the quarter. Alphabet accounts for approximately 0.6% of Aaron Wealth Advisors LLC's portfolio, making the stock its 29th largest holding. Aaron Wealth Advisors LLC's holdings in Alphabet were worth $6,022,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Alphabet by 2.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,103,417 shares of the information services provider's stock worth $6,494,655,000 after purchasing an additional 769,335 shares during the period. Deutsche Bank AG boosted its holdings in shares of Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock worth $3,334,852,000 after purchasing an additional 1,098,996 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Alphabet by 2.2% during the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider's stock worth $3,183,979,000 after purchasing an additional 440,526 shares during the period. Institutional investors own 27.26% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. KeyCorp set a $265.00 price target on shares of Alphabet in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Barclays reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $220.00 target price on shares of Alphabet in a research note on Monday, June 2nd. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $227.56.

Alphabet Price Performance

Shares of GOOG opened at $251.42 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $253.23. The company has a market cap of $3.04 trillion, a P/E ratio of 26.78, a PEG ratio of 1.69 and a beta of 1.01. The firm's 50 day moving average price is $205.68 and its 200 day moving average price is $179.98.

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

Alphabet Announces Dividend

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

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 225,588 shares of company stock worth $44,296,554. Insiders own 12.99% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.