AM Investment Strategies LLC Raises Stake in Alphabet Inc. $GOOG

Key Points

• AM Investment Strategies LLC increased its stake in Alphabet Inc. by 4.5%, now holding 90,620 shares valued at approximately $16.1 million.
• Alphabet recently reported $96.43 billion in quarterly revenue, surpassing analyst estimates, and achieved an earnings per share of $2.31.
• Several analysts maintain a Moderate Buy consensus rating for Alphabet, with a target price of $230.35 and a notable increase in price projections from UBS Group.

AM Investment Strategies LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,620 shares of the information services provider's stock after acquiring an additional 3,886 shares during the period. Alphabet comprises approximately 3.8% of AM Investment Strategies LLC's investment portfolio, making the stock its 5th largest holding. AM Investment Strategies LLC's holdings in Alphabet were worth $16,075,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Principia Wealth Advisory LLC raised its stake in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet during the 1st quarter worth $26,000. Goodman Advisory Group LLC bought a new stake in shares of Alphabet during the 1st quarter worth $32,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet during the 1st quarter worth $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in shares of Alphabet during the 1st quarter worth $34,000. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GOOG shares. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Barclays reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. UBS Group lifted their price objective on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Finally, Cowen reissued 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $230.35.

Alphabet Stock Down 1.8%

GOOG stock opened at $247.83 on Thursday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.00 trillion, a PE ratio of 26.39, a PEG ratio of 1.70 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. The stock has a 50-day simple moving average of $214.14 and a two-hundred day simple moving average of $183.18.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during 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%.The company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 EPS. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares of the company's stock, valued at $558,219,089.16. The trade was a 1.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock worth $52,405,304 over the last quarter. 12.99% of the stock is owned by corporate insiders.

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.

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