Wealthcare Advisory Partners LLC Has $7.49 Million Stock Holdings in Alphabet Inc. $GOOG

Key Points

• Wealthcare Advisory Partners LLC increased its stake in Alphabet Inc. by 17.7% during the 2nd quarter, holding a total of 42,243 shares valued at approximately $7.49 million.
• Notable institutional investors, including Vanguard Group Inc. and JPMorgan Chase & Co., have also increased their stakes in Alphabet, indicating bullish market sentiment.
• Alphabet recently announced a quarterly dividend of $0.21, translating to an annualized yield of 0.3%, with a payout ratio of 8.95%.

Wealthcare Advisory Partners LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 17.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 42,243 shares of the information services provider's stock after buying an additional 6,360 shares during the quarter. Wealthcare Advisory Partners LLC's holdings in Alphabet were worth $7,494,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake 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 purchasing an additional 9,687,855 shares during the last quarter. Kingstone Capital Partners Texas LLC increased its stake 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 purchasing an additional 135,064,454 shares during the last quarter. JPMorgan Chase & Co. increased its stake 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 purchasing an additional 9,243,959 shares during the last quarter. Deutsche Bank AG increased its stake 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 purchasing an additional 1,098,996 shares during the last quarter. Finally, Invesco Ltd. increased its stake 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 purchasing an additional 440,526 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company's stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O'toole sold 953 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer directly owned 17,294 shares of the company's stock, valued at approximately $4,171,312.80. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,738 shares of company stock worth $59,135,475. 12.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GOOG. UBS Group increased their price target on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Scotiabank increased their price target on shares of Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, July 22nd. Oppenheimer reaffirmed an "outperform" rating and set a $270.00 price objective (up from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alphabet in a report on Saturday, September 27th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $235.33.

Alphabet Price Performance

NASDAQ GOOG opened at $247.13 on Wednesday. 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 fifty day simple moving average of $224.07 and a 200 day simple moving average of $188.32. The company has a market cap of $2.99 trillion, a P/E ratio of 26.32, a P/E/G ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70.

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

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders 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 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio 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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