Winthrop Advisory Group LLC Acquires 2,807 Shares of Alphabet Inc. $GOOG

Key Points

• Winthrop Advisory Group LLC increased its holdings in Alphabet Inc. by 19.3% during Q2, acquiring an additional 2,807 shares, bringing its total to 17,375 shares worth approximately $3.08 million.
• Insider transactions included Director Kavitark Ram Shriram selling 18,566 shares and CEO Sundar Pichai selling 32,500 shares, reflecting notable decreases in their ownership percentages.
• Alphabet reported a quarterly earnings per share of $2.31, exceeding analysts' expectations, with revenues of $96.43 billion for the quarter, a 13.8% year-over-year increase.

Winthrop Advisory Group LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 19.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,375 shares of the information services provider's stock after acquiring an additional 2,807 shares during the quarter. Winthrop Advisory Group LLC's holdings in Alphabet were worth $3,082,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of GOOG. ACT Advisors LLC. raised its stake in shares of Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider's stock valued at $288,000 after buying an additional 55 shares during the period. LongView Wealth Management raised its stake in shares of Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider's stock valued at $909,000 after buying an additional 56 shares during the period. Kooman & Associates raised its stake in shares of Alphabet by 1.4% in the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider's stock valued at $732,000 after buying an additional 56 shares during the period. Colton Groome Financial Advisors LLC raised its stake in shares of Alphabet by 3.4% in the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider's stock valued at $309,000 after buying an additional 57 shares during the period. Finally, Brueske Advisory Services LLC raised its stake in shares of Alphabet by 2.7% in the second quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider's stock valued at $389,000 after buying an additional 58 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated Friday, July 18th. The stock was 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 in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock worth $59,135,475 over the last ninety days. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $237.49 on Friday. The stock has a market cap of $2.87 trillion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. 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 fifty day moving average of $226.97 and a 200-day moving average of $189.66.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research reports. Mizuho upgraded Alphabet to a "strong-buy" rating in a research note on Monday, September 29th. Raymond James Financial restated an "outperform" rating and issued a $210.00 target price (up 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. Pivotal Research boosted their target price on Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Finally, Oppenheimer reiterated an "outperform" rating and issued a $270.00 price target (up from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently 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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