Greenwood Gearhart Inc. Increases Holdings in Alphabet Inc. $GOOG

Key Points

• Greenwood Gearhart Inc. increased its holdings in Alphabet Inc. by 1.3% in the second quarter, now owning 173,194 shares valued at approximately $30.7 million.
• Analysts have mixed opinions on Alphabet, with JPMorgan raising its price target to $260, while Phillip Securities downgraded its rating from "strong-buy" to "moderate buy."
• Alphabet recently declared a quarterly dividend of $0.21 per share, representing an annualized dividend yield of 0.3%.

Greenwood Gearhart Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 173,194 shares of the information services provider's stock after purchasing an additional 2,273 shares during the quarter. Alphabet makes up 1.9% of Greenwood Gearhart Inc.'s investment portfolio, making the stock its 21st largest holding. Greenwood Gearhart Inc.'s holdings in Alphabet were worth $30,722,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. ACT Advisors LLC. increased its position in shares of Alphabet by 3.5% during the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider's stock valued at $288,000 after purchasing an additional 55 shares during the last quarter. LongView Wealth Management increased its position in shares of Alphabet by 1.1% during the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider's stock valued at $909,000 after purchasing an additional 56 shares during the last quarter. Kooman & Associates increased its holdings in Alphabet by 1.4% in the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider's stock worth $732,000 after acquiring an additional 56 shares during the last quarter. Colton Groome Financial Advisors LLC increased its holdings in Alphabet by 3.4% in the 2nd quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider's stock worth $309,000 after acquiring an additional 57 shares during the last quarter. Finally, Brueske Advisory Services LLC increased its holdings in Alphabet by 2.7% in the 2nd quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider's stock worth $389,000 after acquiring an additional 58 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GOOG. JPMorgan Chase & Co. lifted their price objective on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Weiss Ratings reissued a "buy (b)" rating on shares of Alphabet in a report on Wednesday, October 8th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five 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 $241.00.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the business'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 value of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the sale, the chief executive officer owned 2,494,892 shares of the company's stock, valued at $489,572,657.16. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 276,338 shares of company stock valued at $59,062,683. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Up 3.0%

Shares of NASDAQ GOOG opened at $244.64 on Tuesday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month 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 firm has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.60 and a beta of 1.00. The business has a 50-day moving average of $227.94 and a 200-day moving average of $190.61.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping 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 company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. Alphabet's revenue was up 13.8% on a year-over-year basis. Sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is presently 8.95%.

Alphabet Company 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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