Alphabet Inc. $GOOG Stake Boosted by ARS Wealth Advisors Group LLC

Key Points

• ARS Wealth Advisors Group LLC increased its stake in Alphabet Inc. by 3.0%, now holding 131,531 shares valued at approximately $23.3 million, making it the firm's 10th largest position.
• Alphabet's quarterly earnings beat estimates, reporting $2.31 earnings per share and $96.43 billion in revenue, marking a 13.8% year-over-year increase.
• The company announced a quarterly dividend of $0.21 per share, representing an annualized yield of 0.3% and reflecting a dividend payout ratio of 8.95%.

ARS Wealth Advisors Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 131,531 shares of the information services provider's stock after buying an additional 3,855 shares during the quarter. Alphabet accounts for about 2.7% of ARS Wealth Advisors Group LLC's holdings, making the stock its 10th biggest position. ARS Wealth Advisors Group LLC's holdings in Alphabet were worth $23,332,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of Alphabet during the 1st quarter valued at about $2,622,943,000. GAMMA Investing LLC increased its position in shares of Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after purchasing an additional 14,246,573 shares during the period. Vanguard Group Inc. lifted its position in Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $786,942,000. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Performance

Shares of NASDAQ:GOOG traded down $0.30 on Tuesday, reaching $252.58. 4,461,482 shares of the company's stock were exchanged, compared to its average volume of 23,907,775. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. The company has a fifty day moving average of $211.48 and a 200-day moving average of $182.24. The company has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 26.89, a PEG ratio of 1.72 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

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

Alphabet Announces Dividend

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

Insider Activity

In other news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business'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 transaction of $2,786,400.00. Following the sale, the director directly owned 240,400 shares in the company, valued at $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 258,088 shares of company stock valued at $52,405,304. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. The Goldman Sachs Group restated a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Cowen reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. KeyCorp set a $265.00 target price on shares of Alphabet in a report on Wednesday, September 3rd. Finally, Roth Capital reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $230.35.

Alphabet Company 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.