Geneos Wealth Management Inc. Buys 1,708 Shares of Alphabet Inc. $GOOG

Key Points

• Geneos Wealth Management Inc. increased its stake in Alphabet Inc. by 2.3%, acquiring an additional 1,708 shares, bringing its total holdings to 76,902 shares worth approximately $12 million.
• Alphabet reported earnings of $2.31 EPS for the last quarter, exceeding estimates, with a revenue of $96.43 billion, up 13.8% year-over-year.
• The company declared a quarterly dividend of $0.21, scheduled for payment on September 15th, reflecting an annualized yield of 0.3%.

Geneos Wealth Management Inc. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,902 shares of the information services provider's stock after acquiring an additional 1,708 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Alphabet were worth $12,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of GOOG. Principia Wealth Advisory LLC grew its position in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $26,000. Goodman Advisory Group LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $32,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet in the 1st quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in shares of Alphabet in the 1st quarter worth approximately $34,000. 27.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares in the company, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the sale, the director owned 6,316 shares of the company's stock, valued at $1,287,137.64. This represents a 8.68% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,710 shares of company stock worth $49,208,380. Company insiders own 12.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GOOG shares. Oppenheimer reiterated an "outperform" rating and issued a $270.00 price objective (up from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Roth Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Lake Street Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, UBS Group lifted their price objective on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $227.56.

Alphabet Stock Performance

NASDAQ:GOOG traded up $0.60 during mid-day trading on Friday, hitting $241.38. 14,519,054 shares of the company traded hands, compared to its average volume of 22,624,780. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock's fifty day moving average price is $202.67 and its 200-day moving average price is $178.83. The firm has a market cap of $2.92 trillion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $242.57.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 earnings per share. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal 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 paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio is 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.