Alphabet Inc. (NASDAQ:GOOG) Shares Bought by ABLE Financial Group LLC

ABLE Financial Group LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 20.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,382 shares of the information services provider’s stock after acquiring an additional 564 shares during the period. ABLE Financial Group LLC’s holdings in Alphabet were worth $620,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Partnership Wealth Management LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $26,000. 1620 Investment Advisors Inc. purchased a new position in Alphabet in the second quarter valued at $37,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet in the fourth quarter worth about $32,000. Richardson Financial Services Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth about $34,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Alphabet during the 4th quarter valued at about $34,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ:GOOG opened at $164.50 on Thursday. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a market cap of $2.03 trillion, a P/E ratio of 25.23, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $175.92 and its 200-day moving average price is $165.02.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the previous year, the firm posted $1.44 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, sell-side analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GOOG. Oppenheimer increased their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $182.86.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the sale, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The disclosure for this sale can be found here. Insiders have sold 179,065 shares of company stock worth $31,025,543 in the last ninety days. 12.99% of the stock is owned by insiders.

Alphabet 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.