Triton Wealth Management PLLC Buys Shares of 5,380 Alphabet Inc. $GOOG

Key Points

• Triton Wealth Management PLLC acquired a stake in Alphabet Inc. by purchasing 5,380 shares valued at approximately $1,039,000 in the second quarter.
• Analysts have recently upgraded Alphabet's stock, with TD Cowen raising its price objective from $270.00 to $280.00 and Robert W. Baird lifting their target from $215.00 to $275.00.
• Alphabet declared a quarterly dividend of $0.21 per share, with a 0.3% yield, and reported a significant rise in revenue for the last quarter, amounting to $96.43 billion.

Triton Wealth Management PLLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,380 shares of the information services provider's stock, valued at approximately $1,039,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GOOG. Vanguard Group Inc. grew 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 worth $64,299,725,000 after buying an additional 9,687,855 shares during the period. Kingstone Capital Partners Texas LLC grew its position in shares of Alphabet by 580,897.4% during the 2nd 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. grew its position in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after buying an additional 9,243,959 shares during the period. Deutsche Bank AG grew its position in shares of Alphabet by 5.4% during the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock worth $3,334,852,000 after buying an additional 1,098,996 shares during the period. Finally, Invesco Ltd. grew its position in shares of Alphabet by 2.2% during the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider's stock worth $3,183,979,000 after buying an additional 440,526 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. TD Cowen raised their price objective on shares of Alphabet from $270.00 to $280.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. Robert W. Baird lifted their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a research report on Monday, September 22nd. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Finally, Scotiabank reissued an "outperform" rating and issued a $310.00 price target on shares of Alphabet in a research report on Thursday. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $244.68.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet 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 sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 243,372 shares of company stock valued at $55,110,740 in the last 90 days. Insiders own 12.99% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $253.79 on Friday. 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 stock's fifty day simple moving average is $232.18 and its two-hundred day simple moving average is $192.97. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $257.58. The stock has a market cap of $3.07 trillion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00.

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 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 for the quarter, compared to analysts' expectations of $93.67 billion. During the same period last year, the business earned $1.89 EPS. The business's revenue was up 13.8% on a year-over-year basis. As a group, analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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