BOS Asset Management LLC Makes New Investment in Alphabet Inc. $GOOG

Key Points

• BOS Asset Management LLC has invested approximately $252,000 in Alphabet Inc. by acquiring 1,420 shares during the second quarter of 2023.
• Alphabet's recent quarterly earnings report showed earnings per share (EPS) of $2.31, exceeding expectations, and a year-over-year revenue increase of 13.8% to $96.43 billion.
• The company announced a quarterly dividend of $0.21 per share, representing an annualized yield of 0.3%, with a low payout ratio of 8.95%.

BOS Asset Management LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,420 shares of the information services provider's stock, valued at approximately $252,000.

Other hedge funds have also added to or reduced their stakes in the company. Principia Wealth Advisory LLC lifted its stake in Alphabet by 111.8% in the first 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 last quarter. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet during the first quarter valued at about $26,000. Goodman Advisory Group LLC bought a new position in shares of Alphabet during the first quarter valued at about $32,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet during the first quarter valued at about $32,000. Finally, Elevate Wealth Advisory Inc. bought a new position in shares of Alphabet during the first quarter valued at about $34,000. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Up 0.2%

Shares of NASDAQ GOOG opened at $247.18 on Friday. The firm's 50 day moving average price is $216.61 and its 200-day moving average price is $184.39. The company has a market cap of $2.99 trillion, a PE ratio of 26.32, a P/E/G ratio of 1.67 and a beta of 1.01. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70. 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 (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, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business's revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Cowen reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. KeyCorp set a $265.00 price objective on shares of Alphabet in a research note on Wednesday, September 3rd. Robert W. Baird upped their price objective on shares of Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Finally, Scotiabank upped their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 22nd. Four research 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 issued a Sell rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $230.35.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 258,088 shares of company stock worth $52,405,304. Corporate 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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