ORG Wealth Partners LLC Purchases 2,294 Shares of Alphabet Inc. $GOOG

Key Points

• ORG Wealth Partners LLC increased its position in Alphabet Inc. by 16.9% in Q2, acquiring an additional 2,294 shares, bringing their total to 15,901 shares with a value of approximately $2.81 million.
• Alphabet reported a quarterly EPS of $2.31, surpassing expectations, with revenue reaching $96.43 billion, reflecting a year-over-year growth of 13.8%.
• The company declared a quarterly dividend of $0.21, resulting in an annualized dividend yield of 0.3%, with a low payout ratio of 8.95%.

ORG Wealth Partners LLC grew its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 16.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,901 shares of the information services provider's stock after acquiring an additional 2,294 shares during the quarter. Alphabet accounts for about 0.8% of ORG Wealth Partners LLC's holdings, making the stock its 17th largest position. ORG Wealth Partners LLC's holdings in Alphabet were worth $2,813,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GOOG. Principia Wealth Advisory LLC lifted 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 worth $26,000 after acquiring an additional 85 shares during the period. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $26,000. Goodman Advisory Group LLC bought a new position in shares of Alphabet during the 1st quarter worth approximately $32,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet during the 1st quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. bought a new position in shares of Alphabet during the 1st quarter worth approximately $34,000. Institutional investors own 27.26% of the company's stock.

Alphabet Trading Up 0.2%

GOOG stock opened at $247.18 on Monday. The business has a fifty day moving average price of $216.61 and a 200 day moving average price of $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 P/E/G 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 released 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 during the quarter, compared to analysts' expectations of $93.67 billion. During the same period last year, the firm posted $1.89 EPS. The business's revenue was up 13.8% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Buying and Selling

In other news, insider John Kent Walker sold 23,820 shares of Alphabet 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 completion of the sale, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Monday, September 15th. The shares were sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares of the company's stock, valued at $1,425,799.04. This trade represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 257,866 shares of company stock worth $52,363,610. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several analyst reports. Phillip Securities downgraded Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. JPMorgan Chase & Co. raised their target price on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Lake Street Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Finally, Raymond James Financial restated an "outperform" rating and set a $210.00 target price (up previously 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 given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $230.35.

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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