Wise Wealth Partners Purchases 2,648 Shares of Alphabet Inc. $GOOG

Key Points

• Wise Wealth Partners has significantly increased its holdings in Alphabet Inc., purchasing 2,648 shares and raising its total position by 180.6% during the second quarter, now holding 4,114 shares valued at approximately $730,000.
• Over 27% of Alphabet's stock is now owned by institutional investors, indicating strong institutional interest in the company.
• Alphabet recently reported earnings exceeding expectations, with a net margin of 31.12% and a year-over-year revenue increase of 13.8%, while also announcing a quarterly dividend of $0.21 per share.

Wise Wealth Partners grew its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 180.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,114 shares of the information services provider's stock after purchasing an additional 2,648 shares during the quarter. Alphabet makes up about 1.2% of Wise Wealth Partners' portfolio, making the stock its 21st largest position. Wise Wealth Partners' holdings in Alphabet were worth $730,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GOOG. Brighton Jones LLC lifted its position in shares of Alphabet by 5.6% during 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 lifted its position in shares of Alphabet by 107.9% during 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 lifted its position in shares of 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 acquiring an additional 14,931 shares during the period. Redhawk Wealth Advisors Inc. lifted its position in shares of Alphabet by 6.6% during the 1st quarter. Redhawk Wealth Advisors Inc. now owns 5,408 shares of the information services provider's stock valued at $845,000 after acquiring an additional 335 shares during the period. Finally, Focus Financial Network Inc. lifted its position in shares of Alphabet by 3.7% during the 1st quarter. Focus Financial Network Inc. now owns 21,376 shares of the information services provider's stock valued at $3,340,000 after acquiring an additional 760 shares during the period. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 103 shares of the firm's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 953 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer owned 17,294 shares of the company's stock, valued at $4,171,312.80. This trade represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 in the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $242.21 on Friday. The firm has a 50-day moving average of $226.01 and a 200-day moving average of $189.21. The company has a market cap of $2.93 trillion, a P/E ratio of 25.79, a P/E/G ratio of 1.66 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 one year low of $142.66 and a one year high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS 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 the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.89 earnings per share. Equities research 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. Investors of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GOOG. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Roth Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. UBS Group set a $255.00 price objective on shares of Alphabet and gave the stock a "neutral" rating in a report on Thursday. Barclays restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Cowen reiterated a "buy" rating on shares of Alphabet in a report on Wednesday. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target 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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