ABLE Financial Group LLC Has $818,000 Stock Holdings in Alphabet Inc. $GOOG

Key Points

• ABLE Financial Group LLC increased its stake in Alphabet Inc. by 76.7%, purchasing an additional 2,001 shares to own a total valued at $818,000 as of the end of the last quarter.
• Insiders at Alphabet have sold a total of 258,088 shares worth over $52 million in the last quarter, indicating a significant decrease in their positions.
• Alphabet recently reported earnings of $2.31 EPS for the quarter, exceeding analyst expectations and marking a 13.8% increase in revenue year-over-year.

ABLE Financial Group LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 76.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,609 shares of the information services provider's stock after purchasing an additional 2,001 shares during the period. ABLE Financial Group LLC's holdings in Alphabet were worth $818,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOG. Brighton Jones LLC raised its position in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after purchasing an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG raised its position in shares of Alphabet by 4.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock worth $96,465,000 after purchasing an additional 20,855 shares during the period. Vermillion Wealth Management Inc. acquired a new position in Alphabet during the fourth quarter valued at $79,000. Heck Capital Advisors LLC acquired a new position in Alphabet during the fourth quarter valued at $403,000. Finally, Infinitum Asset Management LLC acquired a new position in Alphabet during the fourth quarter valued at $9,522,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 258,088 shares of company stock worth $52,405,304. Insiders own 12.99% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $252.88 on Tuesday. The business has a 50 day moving average price of $211.48 and a 200 day moving average price of $182.24. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.06 trillion, a price-to-earnings ratio of 26.93, a PEG ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70.

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, beating the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 EPS. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio is 8.95%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Raymond James Financial reissued an "outperform" rating and set a $210.00 price target (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. KeyCorp set a $265.00 target price on Alphabet in a research report on Wednesday, September 3rd. Finally, Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $230.35.

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.

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