Sightline Wealth Advisors LLC Acquires New Stake in Alphabet Inc. $GOOG

Key Points

• Sightline Wealth Advisors LLC acquired a new stake in Alphabet Inc. by purchasing 1,256 shares valued at approximately $223,000 during the second quarter.
• Alphabet's quarterly earnings surpassed expectations, reporting $2.31 EPS and $96.43 billion in revenue, marking a 13.8% year-over-year increase.
• The company recently announced a quarterly dividend of $0.21 per share, with a current dividend yield of 0.3% and a payout ratio of 8.95%.

Sightline Wealth Advisors LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,256 shares of the information services provider's stock, valued at approximately $223,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of GOOG. Vanguard Group Inc. lifted its position in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares during the last quarter. Kingstone Capital Partners Texas LLC boosted its position in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock worth $23,963,208,000 after buying an additional 135,064,454 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. Deutsche Bank AG grew its position in Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock valued at $3,334,852,000 after purchasing an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Alphabet by 2.2% in the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider's stock valued at $3,183,979,000 after buying an additional 440,526 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $247.18 on Friday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The company has a market cap of $2.99 trillion, a P/E ratio of 26.32, a P/E/G ratio of 1.66 and a beta of 1.01. The business's 50 day moving average is $216.61 and its two-hundred day moving average is $184.28. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter last year, the company posted $1.89 earnings per share. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. On average, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group lifted their target price on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Oppenheimer restated an "outperform" rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Barclays reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. KeyCorp set a $265.00 price target on Alphabet in a report on Wednesday, September 3rd. Finally, BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $230.35.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares of the company's stock, valued at $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 258,088 shares of company stock worth $52,405,304 in the last three months. Company 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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