CreativeOne Wealth LLC Buys 8,526 Shares of Alphabet Inc. $GOOG

Key Points

• CreativeOne Wealth LLC increased its stake in Alphabet Inc. by 37.9%, owning a total of 31,013 shares valued at approximately $4.85 million.
• In insider activities, Kavitark Ram Shriram, a director at Alphabet, sold 15,000 shares for about $2.79 million, reducing his ownership by nearly 6%.
• Alphabet plans to pay a quarterly dividend of $0.21 per share on September 15th, reflecting a dividend yield of 0.4% and a payout ratio of 8.95%.

CreativeOne Wealth LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 37.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 31,013 shares of the information services provider's stock after acquiring an additional 8,526 shares during the period. CreativeOne Wealth LLC's holdings in Alphabet were worth $4,845,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Principia Wealth Advisory LLC lifted its stake in shares of Alphabet by 111.8% in 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 position in shares of Alphabet in the 1st quarter worth approximately $26,000. Goodman Advisory Group LLC bought a new position in shares of Alphabet in the 1st quarter worth approximately $32,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet in the 1st quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. bought a new position in shares of Alphabet in the 1st quarter worth approximately $34,000. Institutional investors own 27.26% of the company's stock.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet 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 $2,786,400.00. Following the sale, the director owned 240,400 shares in the company, valued at $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director owned 6,316 shares in the company, valued at approximately $1,287,137.64. The trade was a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,719 shares of company stock worth $47,223,172. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.1%

Alphabet stock opened at $208.21 on Thursday. The stock has a market cap of $2.52 trillion, a P/E ratio of 22.17, a PEG ratio of 1.40 and a beta of 1.02. 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 $211.09. The firm's 50 day moving average price is $189.63 and its 200-day moving average price is $175.22.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data 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. 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 revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $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 business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GOOG. Barclays reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Scotiabank increased their price objective on shares of Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, July 22nd. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Finally, Oppenheimer restated an "outperform" rating and set a $235.00 target price (up previously from $220.00) on shares of Alphabet in a research note on Thursday, July 24th. Five equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $215.19.

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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.