LVW Advisors LLC Has $7.04 Million Position in Alphabet Inc. $GOOG

Key Points

• LVW Advisors LLC has increased its stake in Alphabet Inc. by 6.2% in Q2, owning 39,709 shares valued at approximately $7.04 million, making it the firm's 25th largest holding.
• Alphabet reported $2.31 earnings per share for its last quarter, surpassing analysts' expectations by $0.19, with revenue reaching $96.43 billion.
• The company has announced a quarterly dividend of $0.21 per share, resulting in an annualized yield of 0.3%, reflecting a payout ratio of 8.95%.

LVW Advisors LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 39,709 shares of the information services provider's stock after purchasing an additional 2,320 shares during the quarter. Alphabet makes up 0.8% of LVW Advisors LLC's investment portfolio, making the stock its 25th largest holding. LVW Advisors LLC's holdings in Alphabet were worth $7,044,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principia Wealth Advisory LLC lifted its holdings in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in Alphabet in the 1st quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. bought a new position in Alphabet in the 1st quarter worth approximately $32,000. Goodman Advisory Group LLC bought a new position in Alphabet in the 1st quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. bought a new position in Alphabet in the 1st quarter worth approximately $34,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $247.18 on Monday. The business's fifty day moving average price is $216.61 and its two-hundred day moving average price is $184.53. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. The stock has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly 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 return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same period in the prior year, the business posted $1.89 earnings per share. The business's revenue was up 13.8% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced 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. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction on 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 sale, the director owned 240,400 shares in the company, valued at approximately $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction 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 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 257,866 shares of company stock valued at $52,363,610. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on GOOG. JPMorgan Chase & Co. lifted their price target on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Scotiabank lifted their price target on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 22nd. Cowen reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Piper Sandler restated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Raymond James Financial restated an "outperform" rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Four investment 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $230.35.

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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