Earned Wealth Advisors LLC Buys 3,550 Shares of Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Earned Wealth Advisors LLC increased its ownership in Alphabet Inc. by 122.7%, acquiring an additional 3,550 shares during the first quarter, bringing its total holdings to 6,443 shares valued at approximately $1,007,000.
• Insider transactions revealed that Director Kavitark Ram Shriram sold 15,000 shares for about $2.79 million, while Director John L. Hennessy sold 400 shares totaling around $72,792, indicating a decrease in their stock ownership.
• Alphabet's stock currently holds a Moderate Buy rating with an average target price of $215.19, alongside solid earnings of $2.31 EPS surpassing estimates.

Earned Wealth Advisors LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 122.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,443 shares of the information services provider's stock after purchasing an additional 3,550 shares during the quarter. Earned Wealth Advisors LLC's holdings in Alphabet were worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Concentrum Wealth Management raised its holdings in Alphabet by 0.3% in the 4th quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock worth $3,300,000 after purchasing an additional 57 shares in the last quarter. JDM Financial Group LLC raised its holdings in Alphabet by 10.6% in the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock worth $113,000 after purchasing an additional 57 shares in the last quarter. Objectivity Squared LLC raised its holdings in Alphabet by 0.4% in the 1st quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock worth $2,605,000 after purchasing an additional 62 shares in the last quarter. Tranquility Partners LLC raised its holdings in Alphabet by 0.4% in the 1st quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider's stock worth $2,263,000 after purchasing an additional 63 shares in the last quarter. Finally, Stonebridge Financial Group LLC raised its holdings in Alphabet by 0.6% in the 1st quarter. Stonebridge Financial Group LLC now owns 10,648 shares of the information services provider's stock worth $1,664,000 after purchasing an additional 64 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the transaction, the director directly owned 240,400 shares in the company, valued at approximately $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 400 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the transaction, the director owned 6,013 shares of the company's stock, valued at $1,094,245.74. This trade represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 249,399 shares of company stock valued at $43,525,794 over the last 90 days. Corporate insiders own 12.99% of the company's stock.

Analyst Ratings Changes

GOOG has been the subject of several research reports. UBS Group increased their price target on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Cowen reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, KeyCorp decreased their target price on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $215.19.

Alphabet Trading Down 1.5%

NASDAQ:GOOG opened at $189.95 on Friday. The firm has a market cap of $2.31 trillion, a P/E ratio of 20.23, a PEG ratio of 1.26 and a beta of 1.02. 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 stock's 50 day simple moving average is $179.37 and its 200-day simple moving average is $174.53. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.89 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm 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 $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.

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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