Von Berge Wealth Management Group LLC Takes $229,000 Position in Alphabet Inc. $GOOG

Key Points

• Von Berge Wealth Management Group LLC has acquired a new stake in Alphabet Inc., purchasing 1,191 shares worth approximately $229,000 during the second quarter.
• CEO Sundar Pichai sold 32,500 shares for around $6.38 million, which decreased his position by 1.29% while keeping ownership of nearly 2.5 million shares.
• Alphabet's recent quarterly earnings showed revenue of $96.43 billion, surpassing analyst expectations and marking a 13.8% increase compared to the previous year.

Von Berge Wealth Management Group LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,191 shares of the information services provider's stock, valued at approximately $229,000.

A number of other hedge funds have also made changes to their positions in GOOG. Brighton Jones LLC raised its stake in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after acquiring an additional 6,410 shares during the period. Revisor Wealth Management LLC raised its stake in shares of Alphabet by 107.9% in the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider's stock valued at $572,000 after acquiring an additional 1,899 shares during the period. GAMMA Investing LLC grew its holdings in Alphabet by 19.5% during the 1st quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider's stock valued at $14,323,000 after purchasing an additional 14,931 shares in the last quarter. Azzad Asset Management Inc. ADV grew its holdings in Alphabet by 21.0% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 2,794 shares of the information services provider's stock valued at $436,000 after purchasing an additional 485 shares in the last quarter. Finally, Sound Income Strategies LLC grew its holdings in Alphabet by 7.9% during the 1st quarter. Sound Income Strategies LLC now owns 6,653 shares of the information services provider's stock valued at $1,039,000 after purchasing an additional 489 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the transaction, the chief executive officer directly owned 2,494,892 shares of the company's stock, valued at approximately $489,572,657.16. The trade was a 1.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 276,338 shares of company stock valued at $59,062,683. Company insiders own 12.99% of the company's stock.

Alphabet Price Performance

Shares of GOOG stock opened at $244.64 on Tuesday. The firm has a market cap of $2.96 trillion, a P/E ratio of 26.05, a P/E/G ratio of 1.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70. The firm has a fifty day moving average of $227.94 and a two-hundred day moving average of $190.61.

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 for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the business earned $1.89 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is 8.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Alphabet from $210.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, October 2nd. Jefferies Financial Group raised their price target on shares of Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. TD Cowen raised their price target on shares of Alphabet from $270.00 to $280.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Scotiabank raised their price target on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a report on Tuesday, July 22nd. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Six 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $241.00.

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.

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