Strategies Wealth Advisors LLC Takes Position in Alphabet Inc. $GOOG

Key Points

• Strategies Wealth Advisors LLC acquired a new stake of 6,679 shares in Alphabet Inc. valued at approximately $1,043,000 in the first quarter of 2023.
• Insider trades revealed that John Kent Walker sold 23,820 shares of Alphabet stock, reducing his position by 35.65% while other insiders also made significant sales totaling over $47 million in the past three months.
• Alphabet announced a quarterly dividend of $0.21 per share, with the ex-dividend date set for September 8th, 2023, resulting in an annualized dividend yield of 0.4%.

Strategies Wealth Advisors LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,679 shares of the information services provider's stock, valued at approximately $1,043,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GOOG. 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 valued at $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in Alphabet in the 1st quarter valued at $26,000. Goodman Advisory Group LLC purchased a new position in Alphabet in the 1st quarter valued at $32,000. Greykasell Wealth Strategies Inc. purchased a new position in Alphabet in the 1st quarter valued at $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new position in Alphabet in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was 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 of the company's stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the sale, the director directly owned 6,316 shares of the company's stock, valued at $1,287,137.64. The trade was a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,719 shares of company stock valued at $47,223,172 over the last 90 days. Company insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GOOG. Raymond James Financial restated an "outperform" rating and issued a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. The Goldman Sachs Group restated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Susquehanna restated a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Barclays reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $235.00 target price (up from $220.00) on shares of Alphabet in a research note on Thursday, July 24th. Five analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $215.19.

Alphabet Stock Up 0.2%

Shares of NASDAQ:GOOG opened at $200.62 on Friday. The business has a 50-day moving average price of $187.09 and a 200 day moving average price of $174.87. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.43 trillion, a price-to-earnings ratio of 21.37, a PEG ratio of 1.35 and a beta of 1.02. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.

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

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

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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