Independent Solutions Wealth Management LLC Boosts Position in Alphabet Inc. $GOOG

Key Points

• Independent Solutions Wealth Management LLC increased its holdings in Alphabet Inc. by 28.8% during the second quarter, bringing their total shares to 13,826, valued at approximately $2,453,000.
• Alphabet's stock recently reported a 1.3% decline, with a current price of $242.21 and a market capitalization of $2.93 trillion.
• The company disclosed a quarterly dividend of $0.21, representing an annual yield of 0.3%, with a payout ratio of 8.95%.

Independent Solutions Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 28.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 13,826 shares of the information services provider's stock after buying an additional 3,090 shares during the period. Independent Solutions Wealth Management LLC's holdings in Alphabet were worth $2,453,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. RDA Financial Network raised its stake in shares of Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock valued at $1,968,000 after purchasing an additional 554 shares during the period. Tower View Wealth Management LLC raised its stake in shares of Alphabet by 6.9% during the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider's stock valued at $4,904,000 after purchasing an additional 1,776 shares during the period. Oldfather Financial Services LLC purchased a new stake in shares of Alphabet during the second quarter valued at approximately $213,000. Truist Financial Corp raised its stake in shares of Alphabet by 0.4% during the second quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider's stock valued at $643,381,000 after purchasing an additional 15,065 shares during the period. Finally, GC Wealth Management RIA LLC raised its stake in shares of Alphabet by 115.7% during the second quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider's stock valued at $38,031,000 after purchasing an additional 115,003 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Down 1.3%

GOOG stock opened at $242.21 on Friday. The company has a market capitalization of $2.93 trillion, a P/E ratio of 25.79, a PEG ratio of 1.66 and a beta of 1.00. The firm has a 50 day simple moving average of $226.01 and a 200-day simple moving average of $189.21. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm's revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.89 earnings per share. On average, equities research analysts predict 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. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group set a $255.00 price objective on shares of Alphabet and gave the company a "neutral" rating in a research note on Thursday. Hsbc Global Res upgraded shares of Alphabet to a "strong-buy" rating in a research note on Tuesday. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Mizuho raised shares of Alphabet to a "strong-buy" rating in a research report on Monday, September 29th. Finally, Robert W. Baird raised their price target on shares of Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $241.00.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were 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 owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock valued at $59,135,475 over the last 90 days. 12.99% of the stock is owned by company insiders.

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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