Cooper Financial Group Grows Position in Alphabet Inc. $GOOG

Key Points

• Cooper Financial Group increased its holdings in Alphabet Inc. by 11.4% during the 2nd quarter, owning a total of 32,616 shares valued at approximately $5.79 million.
• Alphabet reported $96.43 billion in revenue for the last quarter, exceeding expectations and achieving a year-over-year growth of 13.8% compared to $84.97 billion the previous year.
• The company recently announced a quarterly dividend of $0.21 per share, reflecting an annualized yield of 0.3% with a payout ratio of 8.95%.

Cooper Financial Group raised its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,616 shares of the information services provider's stock after acquiring an additional 3,327 shares during the period. Alphabet makes up 0.7% of Cooper Financial Group's investment portfolio, making the stock its 29th largest position. Cooper Financial Group's holdings in Alphabet were worth $5,786,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principia Wealth Advisory LLC raised its position in Alphabet by 111.8% during 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 in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in Alphabet during the first quarter valued at about $26,000. Robbins Farley raised its holdings in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after buying an additional 60 shares in the last quarter. Goodman Advisory Group LLC purchased a new position in shares of Alphabet during the 1st quarter valued at about $32,000. Finally, Greykasell Wealth Strategies Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at about $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.4%

Shares of NASDAQ:GOOG opened at $246.43 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The company has a market cap of $2.98 trillion, a PE ratio of 26.24, a P/E/G ratio of 1.66 and a beta of 1.00. The stock's 50-day moving average is $220.84 and its 200 day moving average is $186.43.

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 (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. The business's revenue was up 13.8% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given 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%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GOOG shares. Jefferies Financial Group lifted their price target on shares of Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a research note on Thursday. Cowen reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Roth Capital reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Five 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 stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $235.33.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock worth $59,135,475 over the last 90 days. 12.99% of the stock is owned by company insiders.

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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