Alphabet Inc. $GOOG Shares Purchased by Ameliora Wealth Management Ltd.

Key Points

• Ameliora Wealth Management Ltd. increased its stake in Alphabet Inc. by 19.3% during Q2, now owning 12,968 shares worth approximately $2.3 million.
• Insider trading activity saw Director John L. Hennessy sell 600 shares while CEO Sundar Pichai sold 32,500 shares, resulting in decreases of 9.5% and 1.33% in their respective ownerships.
• Alphabet reported a strong quarterly performance with earnings per share of $2.31, exceeding analyst expectations and a revenue of $96.43 billion, which is a 13.8% increase year-over-year.

Ameliora Wealth Management Ltd. boosted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 19.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,968 shares of the information services provider's stock after buying an additional 2,098 shares during the quarter. Ameliora Wealth Management Ltd.'s holdings in Alphabet were worth $2,300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Brighton Jones LLC boosted its stake in shares of Alphabet by 5.6% during 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. Revisor Wealth Management LLC lifted its position in Alphabet by 107.9% during the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider's stock worth $572,000 after acquiring an additional 1,899 shares during the last quarter. GAMMA Investing LLC lifted its position in Alphabet by 19.5% during the 1st quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider's stock worth $14,323,000 after acquiring an additional 14,931 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its position in Alphabet by 6.6% during the 1st quarter. Redhawk Wealth Advisors Inc. now owns 5,408 shares of the information services provider's stock worth $845,000 after acquiring an additional 335 shares during the last quarter. Finally, Focus Financial Network Inc. lifted its position in Alphabet by 3.7% during the 1st quarter. Focus Financial Network Inc. now owns 21,376 shares of the information services provider's stock worth $3,340,000 after acquiring an additional 760 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director directly owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the sale, the chief executive officer directly owned 2,402,119 shares in the company, valued at $584,699,785.79. This represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research reports. Piper Sandler restated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Barclays reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Pivotal Research upped their target price on shares of Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. TD Cowen upped their target price on shares of Alphabet from $270.00 to $280.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Oppenheimer reissued an "outperform" rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $241.00.

Alphabet Price Performance

Shares of Alphabet stock opened at $242.21 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.93 trillion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70. The firm's 50-day moving average price is $226.01 and its two-hundred day moving average price is $189.21.

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 for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.89 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

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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