LeConte Wealth Management LLC Purchases New Holdings in Alphabet Inc. $GOOG

Key Points

• LeConte Wealth Management LLC has acquired a new stake in Alphabet Inc., purchasing 1,208 shares valued at approximately $214,000 in the second quarter.
• Several institutional investors increased their positions in Alphabet, with Principia Wealth Advisory LLC growing its stake by 111.8%.
• Alphabet announced a quarterly dividend of $0.21 per share, reflecting an annualized dividend yield of 0.3%.

LeConte Wealth Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,208 shares of the information services provider's stock, valued at approximately $214,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principia Wealth Advisory LLC grew its position in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after acquiring an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in Alphabet in the 1st quarter valued at about $26,000. Greykasell Wealth Strategies Inc. bought a new position in Alphabet during the first quarter worth about $32,000. Goodman Advisory Group LLC acquired a new position in Alphabet during the first quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in Alphabet in the first quarter valued at approximately $34,000. Institutional investors own 27.26% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GOOG shares. KeyCorp set a $265.00 target price on Alphabet in a research note on Wednesday, September 3rd. Roth Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $230.35.

Alphabet Stock Performance

NASDAQ GOOG opened at $247.18 on Friday. The company has a market capitalization of $2.99 trillion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.66 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70. The company has a 50-day simple moving average of $216.61 and a 200 day simple moving average of $184.28.

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

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given 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 dividend payout ratio (DPR) is currently 8.95%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. This represents a 1.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction dated 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 sale, the director owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 258,088 shares of company stock worth $52,405,304 in the last ninety days. 12.99% of the stock is owned by corporate insiders.

Alphabet 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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