Patton Albertson Miller Group LLC Purchases 1,729 Shares of Alphabet Inc. $GOOG

Key Points

• Patton Albertson Miller Group LLC increased its stake in Alphabet Inc. by 6.9%, purchasing an additional 1,729 shares, raising its total holdings to 26,870 shares valued at approximately $4.76 million.
• Alphabet's stock recently had a price fluctuation, opening at $244.36 with a 1-year high of $256.70 and a low of $142.66, amid a market capitalization of $2.96 trillion.
• The company announced a quarterly dividend of $0.21 per share, reflecting an annual dividend yield of 0.3% and a payout ratio of 8.95%.

Patton Albertson Miller Group LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,870 shares of the information services provider's stock after purchasing an additional 1,729 shares during the quarter. Patton Albertson Miller Group LLC's holdings in Alphabet were worth $4,766,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GOOG. Independence Bank of Kentucky increased its stake in Alphabet by 10.2% during the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after acquiring an additional 1,376 shares during the last quarter. RDA Financial Network lifted its stake in shares of Alphabet by 5.3% in the 2nd 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 last quarter. Fermata Advisors LLC lifted its stake in shares of Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock valued at $1,527,000 after purchasing an additional 259 shares during the last quarter. Oldfather Financial Services LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at approximately $213,000. Finally, Members Trust Co lifted its stake in shares of Alphabet by 84.7% in the 1st quarter. Members Trust Co now owns 4,999 shares of the information services provider's stock valued at $781,000 after purchasing an additional 2,292 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Down 1.1%

Shares of NASDAQ:GOOG opened at $244.36 on Tuesday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The business has a 50 day simple moving average of $217.67 and a two-hundred day simple moving average of $185.06. The firm has a market capitalization of $2.96 trillion, a PE ratio of 26.02, 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 earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's payout ratio is presently 8.95%.

Analyst Upgrades and Downgrades

GOOG has been the subject of several analyst reports. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. Raymond James Financial reaffirmed an "outperform" rating and issued a $210.00 price objective (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. UBS Group raised their price objective on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Finally, Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $230.35.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction that occurred 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 owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares of the company's stock, valued at $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 257,866 shares of company stock valued at $52,363,610 in the last ninety days. Corporate insiders own 12.99% of the company's stock.

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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