Alphabet Inc. $GOOG Shares Bought by Abner Herrman & Brock LLC

Key Points

• Abner Herrman & Brock LLC increased its stake in Alphabet Inc. by 0.9% in Q2, holding 126,025 shares valued at approximately $22.36 million.
• Alphabet recently reported Q2 earnings of $2.31 EPS, surpassing estimates, with a revenue of $96.43 billion, up 13.8% year-over-year.
• The company announced a quarterly dividend of $0.21 per share, with a payout ratio of 8.95%, reflecting its ongoing commitment to returning value to shareholders.

Abner Herrman & Brock LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,025 shares of the information services provider's stock after acquiring an additional 1,174 shares during the period. Alphabet comprises approximately 2.5% of Abner Herrman & Brock LLC's holdings, making the stock its 13th biggest position. Abner Herrman & Brock LLC's holdings in Alphabet were worth $22,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. Brighton Jones LLC boosted its holdings in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after buying 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 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock worth $96,465,000 after buying an additional 20,855 shares in the last quarter. Sentinus LLC raised its position in shares of Alphabet by 23.5% during the 4th quarter. Sentinus LLC now owns 8,799 shares of the information services provider's stock worth $1,676,000 after buying an additional 1,677 shares in the last quarter. Select Equity Group L.P. grew its stake in shares of Alphabet by 25.1% in the 4th quarter. Select Equity Group L.P. now owns 584,478 shares of the information services provider's stock worth $111,308,000 after purchasing an additional 117,189 shares during the last quarter. Finally, Scissortail Wealth Management LLC grew its stake in shares of Alphabet by 53,418.2% in the 4th quarter. Scissortail Wealth Management LLC now owns 5,887 shares of the information services provider's stock worth $1,121,000 after purchasing an additional 5,876 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 0.2%

Shares of NASDAQ GOOG opened at $241.38 on Friday. The firm has a market capitalization of $2.92 trillion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 1.62 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 Inc. has a 1 year low of $142.66 and a 1 year high of $242.57. The firm's 50-day moving average is $202.67 and its 200-day moving average is $178.86.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,462,392 shares of the company's stock, valued at approximately $492,281,408.64. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on 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 completion of the transaction, the insider directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 254,710 shares of company stock worth $49,208,380. Corporate insiders own 12.99% of the company's stock.

Wall Street Analyst Weigh In

GOOG has been the topic of several analyst reports. Cowen reissued 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. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. UBS Group increased their price objective on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $220.00 price objective 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 issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $227.56.

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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