Detalus Advisors LLC Takes Position in Alphabet Inc. $GOOG

Key Points

• Detalus Advisors LLC acquired 1,236 shares of Alphabet Inc. valued at approximately $219,000 during the second quarter according to a recent SEC filing.
• Alphabet reported $2.31 earnings per share for its last quarter, beating estimates and showing a 13.8% year-over-year revenue increase to $96.43 billion.
• The company has recently announced a $0.21 quarterly dividend, with a yield of 0.4% and a payout ratio of 8.95%.

Detalus Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,236 shares of the information services provider's stock, valued at approximately $219,000.

Several other institutional investors have also modified their holdings of GOOG. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at $26,000. IFS Advisors LLC lifted its holdings in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley lifted its holdings in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC lifted its holdings in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock valued at $29,000 after purchasing an additional 61 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Alphabet during the first quarter valued at $32,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Down 1.9%

NASDAQ:GOOG opened at $237.49 on Friday. The firm has a market capitalization of $2.87 trillion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.63 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 company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business's fifty day moving average price is $226.97 and its 200 day moving average price is $189.66.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 analyst estimates of $93.67 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated 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 directly owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. This represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 in the last three months. Insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GOOG. Hsbc Global Res raised Alphabet to a "strong-buy" rating in a report on Tuesday. TD Cowen upped their target price on Alphabet from $270.00 to $280.00 and gave the company a "buy" rating in a report on Wednesday. Robert W. Baird upped their target price on Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Barclays reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Roth Capital reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $241.00.

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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