IVC Wealth Advisors LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,582 shares of the information services provider's stock, valued at approximately $281,000.
Several other institutional investors also recently modified their holdings of the stock. Robbins Farley lifted its holdings in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after purchasing an additional 60 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet during the 1st quarter valued at about $26,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet during the 1st quarter valued at about $32,000. Goodman Advisory Group LLC bought a new position in shares of Alphabet during the 1st quarter valued at about $32,000. Finally, Elevate Wealth Advisory Inc. bought a new position in shares of Alphabet during the 1st quarter valued at about $34,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Stock Down 1.7%
NASDAQ:GOOG opened at $247.13 on Wednesday. The firm has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. The stock's 50 day moving average price is $224.07 and its two-hundred day moving average price is $188.32. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.
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, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates 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 previous year, the firm earned $1.89 EPS. Equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given 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 8.95%.
Wall Street Analysts Forecast Growth
GOOG has been the topic of several recent analyst reports. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Mizuho upgraded Alphabet to a "strong-buy" rating in a report on Monday, September 29th. Oppenheimer reiterated an "outperform" rating and set a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Roth Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Jefferies Financial Group boosted their target price on Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Five analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $235.33.
Get Our Latest Stock Report on GOOG
Insiders Place Their Bets
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock valued at $59,135,475 in the last 90 days. 12.99% of the stock is currently owned by insiders.
Alphabet Company Profile
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Free Report)
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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