Alphabet Inc. (NASDAQ:GOOG) Stake Lifted by WP Advisors LLC

Key Points

• WP Advisors LLC increased its position in Alphabet Inc. by 16.0%, purchasing an additional 14,858 shares, bringing its total holdings to 107,655 shares worth approximately $16.8 million.
• Key analysts have issued optimistic ratings for Alphabet's stock, with Oppenheimer setting a price target of $235, while the stock holds a consensus rating of "Moderate Buy" at an average target price of $215.19.
• Alphabet announced a quarterly dividend of $0.21, set to be paid on September 15th, representing an annualized yield of 0.4% and a payout ratio of 8.95%.

WP Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 16.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 107,655 shares of the information services provider's stock after purchasing an additional 14,858 shares during the quarter. Alphabet comprises approximately 5.6% of WP Advisors LLC's holdings, making the stock its 4th largest holding. WP Advisors LLC's holdings in Alphabet were worth $16,819,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. LSV Asset Management acquired a new position in shares of Alphabet in the 4th quarter valued at $27,000. Principia Wealth Advisory LLC increased its position in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the 1st quarter valued at $26,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at $32,000. Finally, Goodman Advisory Group LLC bought a new stake in shares of Alphabet in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Price Performance

NASDAQ:GOOG traded down $1.13 during mid-day trading on Wednesday, reaching $203.03. The stock had a trading volume of 19,558,050 shares, compared to its average volume of 24,059,596. The stock has a 50-day simple moving average of $183.25 and a two-hundred day simple moving average of $174.55. The stock has a market capitalization of $2.46 trillion, a PE ratio of 21.62, a P/E/G ratio of 1.34 and a beta of 1.02. 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 12 month low of $142.66 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.89 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Analysts Set New Price Targets

A number of analysts recently commented on GOOG shares. Westpark Capital restated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Oppenheimer restated an "outperform" rating and issued a $235.00 price objective (up previously from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. Finally, Raymond James Financial restated an "outperform" rating and issued a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $215.19.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director 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 at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 274,219 shares of company stock worth $49,674,273. Company insiders own 12.99% of the company's stock.

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.