Redhawk Wealth Advisors Inc. Has $1.16 Million Holdings in Alphabet Inc. $GOOG

Key Points

• Redhawk Wealth Advisors Inc. increased its stake in Alphabet Inc. by 20.5% in Q2, now owning 6,514 shares valued at approximately $1.16 million.
• Insider John Kent Walker sold 23,820 shares for over $4.6 million, reducing his position in Alphabet by 35.65%.
• Alphabet recently announced a dividend of $0.21 per share, yielding 0.3%, reflecting a payout ratio of 8.95%.

Redhawk Wealth Advisors Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 20.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,514 shares of the information services provider's stock after buying an additional 1,106 shares during the quarter. Redhawk Wealth Advisors Inc.'s holdings in Alphabet were worth $1,156,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in GOOG. Principia Wealth Advisory LLC grew its position in shares of Alphabet by 111.8% in the first 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 bought a new stake in shares of Alphabet in the first quarter valued at approximately $26,000. Goodman Advisory Group LLC acquired a new position in shares of Alphabet during the first quarter valued at about $32,000. Greykasell Wealth Strategies Inc. acquired a new stake in Alphabet during the first quarter worth about $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new position in Alphabet in the 1st quarter valued at approximately $34,000. Institutional investors own 27.26% of the company's stock.

Alphabet Trading Down 1.3%

GOOG stock traded down $3.35 during midday trading on Monday, hitting $251.89. 14,156,217 shares of the company's stock were exchanged, compared to its average volume of 23,983,736. The stock's fifty day moving average price is $210.08 and its 200-day moving average price is $181.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $142.66 and a one year high of $256.70. The company has a market cap of $3.05 trillion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01.

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

Alphabet Announces Dividend

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

Insider Activity

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the transaction, the director directly owned 5,716 shares in the company, valued at $1,425,799.04. This trade represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 258,088 shares of company stock worth $52,405,304. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GOOG shares. JPMorgan Chase & Co. raised their target price on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Cowen restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. KeyCorp set a $265.00 price objective on Alphabet in a research note on Wednesday, September 3rd. Finally, Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $230.35.

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.