Powers Advisory Group LLC Purchases Shares of 1,152 Alphabet Inc. $GOOG

Key Points

• Powers Advisory Group LLC acquired 1,152 shares of Alphabet Inc. (NASDAQ: GOOG) valued at around $204,000 in the second quarter.
• Alphabet recently reported $2.31 EPS for the quarter, exceeding estimates, with a revenue of $96.43 billion representing a year-over-year growth of 13.8%.
• Multiple analysts have upgraded their ratings for Alphabet, with Morgan Stanley raising the price target from $210.00 to $270.00 and classifying the stock as "overweight".

Powers Advisory Group LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,152 shares of the information services provider's stock, valued at approximately $204,000.

A number of other hedge funds also recently bought and sold shares of GOOG. Principia Wealth Advisory LLC raised its position in shares of Alphabet by 111.8% during 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 in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet during the 1st quarter worth about $26,000. Robbins Farley raised its position in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider's stock worth $28,000 after acquiring an additional 60 shares in the last quarter. Goodman Advisory Group LLC purchased a new position in Alphabet during the 1st quarter worth approximately $32,000. Finally, Greykasell Wealth Strategies Inc. purchased a new position in Alphabet during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Trading Up 0.4%

Shares of GOOG stock opened at $246.43 on Friday. The business's 50 day moving average is $220.84 and its two-hundred day moving average is $186.43. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. The company has a market capitalization of $2.98 trillion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

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 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 company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period last year, the business posted $1.89 EPS. The company's revenue was up 13.8% on a year-over-year basis. Equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid 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 8.95%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GOOG shares. Roth Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Morgan Stanley raised their price target on Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday. KeyCorp set a $265.00 price target on Alphabet in a research note on Wednesday, September 3rd. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Finally, Mizuho upgraded Alphabet to a "strong-buy" rating in a research note on Monday. Five research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $235.33.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. This trade represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 276,738 shares of company stock valued at $59,135,475. 12.99% of the stock is owned by company 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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