Alphabet Inc. $GOOG Shares Acquired by Whelan Financial

Key Points

• Whelan Financial increased its holdings in Alphabet Inc. by 19.8% during the 2nd quarter, owning a total of 9,335 shares valued at approximately $1.66 million.
• Alphabet Inc. reported $2.31 EPS for the last quarter, surpassing estimates, with revenue of $96.43 billion, reflecting a 13.8% year-over-year increase.
• Analysts maintain a Moderate Buy average rating on Alphabet shares, with five analysts giving a Strong Buy rating and a price target average of $235.33.

Whelan Financial lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 19.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,335 shares of the information services provider's stock after acquiring an additional 1,541 shares during the period. Alphabet accounts for approximately 0.6% of Whelan Financial's investment portfolio, making the stock its 20th biggest holding. Whelan Financial's holdings in Alphabet were worth $1,656,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Robbins Farley lifted its position in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after acquiring an additional 60 shares during the last quarter. Principia Wealth Advisory LLC lifted its holdings in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at about $26,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Alphabet in the 1st quarter valued at about $32,000. Finally, Goodman Advisory Group LLC purchased a new position in Alphabet during the 1st quarter worth approximately $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research analyst reports. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Piper Sandler restated a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Robert W. Baird increased their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Finally, Scotiabank boosted their price target on Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 22nd. Five investment analysts have rated the stock with a Strong Buy rating, twenty 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.com, the company presently has an average rating of "Moderate Buy" and an average price target of $235.33.

Alphabet Stock Up 0.0%

Shares of NASDAQ GOOG opened at $246.45 on Monday. The firm's 50-day moving average is $221.89 and its two-hundred day moving average is $187.31. The company has a market capitalization of $2.98 trillion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

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

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid 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 payout ratio is presently 8.95%.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares in the company, valued at $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O'toole sold 953 shares of Alphabet stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock worth $59,135,475 over the last three months. Company insiders own 12.99% of the company's stock.

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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