Wealth Enhancement Advisory Services LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,205,624 shares of the information services provider's stock after selling 19,266 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Alphabet were worth $217,675,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the company. NCM Capital Management LLC lifted its stake in Alphabet by 2.2% in the 1st quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider's stock valued at $438,000 after acquiring an additional 60 shares in the last quarter. Legacy Private Trust Co. lifted its stake in Alphabet by 0.6% in the 2nd quarter. Legacy Private Trust Co. now owns 9,956 shares of the information services provider's stock valued at $1,766,000 after acquiring an additional 60 shares in the last quarter. Faithward Advisors LLC lifted its stake in Alphabet by 2.5% in the 1st quarter. Faithward Advisors LLC now owns 2,505 shares of the information services provider's stock valued at $391,000 after acquiring an additional 61 shares in the last quarter. SK Wealth Management LLC lifted its stake in Alphabet by 4.4% in the 2nd quarter. SK Wealth Management LLC now owns 1,436 shares of the information services provider's stock valued at $255,000 after acquiring an additional 61 shares in the last quarter. Finally, Objectivity Squared LLC lifted its stake in Alphabet by 0.4% in the 1st quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock valued at $2,605,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 27.26% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on GOOG shares. Oppenheimer reiterated an "outperform" rating and set a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Raymond James Financial reiterated an "outperform" rating and set a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. The Goldman Sachs Group reiterated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. Finally, UBS Group upped their price objective on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $227.56.
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Insider Activity at Alphabet
In other news, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the sale, the director directly owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This represents a 5.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the 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 sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $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. Insiders sold a total of 258,088 shares of company stock worth $52,405,304 in the last quarter. 12.99% of the stock is currently owned by corporate insiders.
Alphabet Stock Performance
NASDAQ GOOG traded up $2.91 on Friday, reaching $255.24. The stock had a trading volume of 41,503,403 shares, compared to its average volume of 24,489,492. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a fifty day moving average of $210.08 and a two-hundred day moving average of $181.61. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70. The company has a market cap of $3.09 trillion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 1.70 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period in the prior year, the firm posted $1.89 EPS. The company's revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.
About Alphabet
(
Free Report)
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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