Triangle Securities Wealth Management Has $7.60 Million Holdings in Alphabet Inc. $GOOG

Key Points

• Triangle Securities Wealth Management has reduced its stake in Alphabet Inc. by 6.3%, now holding 42,844 shares valued at approximately $7.6 million.
• Alphabet's recent quarterly earnings report indicated an EPS of $2.31, exceeding analyst expectations, with a revenue of $96.43 billion, marking a 13.8% increase year-over-year.
• The company has declared a quarterly dividend of $0.21 per share, with a current annual yield of 0.3% and a payout ratio of 8.95%.

Triangle Securities Wealth Management decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,844 shares of the information services provider's stock after selling 2,902 shares during the quarter. Alphabet comprises about 1.9% of Triangle Securities Wealth Management's investment portfolio, making the stock its 12th biggest holding. Triangle Securities Wealth Management's holdings in Alphabet were worth $7,600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in GOOG. ARQ Wealth Advisors LLC grew its holdings in shares of Alphabet by 39.3% during the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock worth $945,000 after purchasing an additional 1,400 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in shares of Alphabet by 10.2% in the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after purchasing an additional 1,376 shares in the last quarter. RDA Financial Network grew its stake in 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 buying an additional 554 shares during the last quarter. Fermata Advisors LLC lifted its holdings in Alphabet by 2.7% during 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. Finally, jvl associates llc boosted its stake in Alphabet by 3.5% during the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock worth $1,571,000 after acquiring an additional 343 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Raymond James Financial reaffirmed an "outperform" rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. UBS Group increased their price target on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Finally, Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $230.35.

Alphabet Stock Performance

GOOG traded down $0.16 during midday trading on Tuesday, reaching $252.72. The company had a trading volume of 4,719,605 shares, compared to its average volume of 23,911,719. The business has a 50-day moving average price of $211.48 and a two-hundred day moving average price of $182.24. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market cap of $3.06 trillion, a PE ratio of 26.89, a P/E/G ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company posted $1.89 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal 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 issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm's 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 transaction, the insider owned 42,999 shares in the company, 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 SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The shares were 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 258,088 shares of company stock worth $52,405,304. 12.99% of the stock is currently owned by insiders.

About Alphabet

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.