Dover Advisors LLC Buys 618 Shares of Alphabet Inc. (NASDAQ:GOOG)

Dover Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 23.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,278 shares of the information services provider’s stock after purchasing an additional 618 shares during the quarter. Dover Advisors LLC’s holdings in Alphabet were worth $601,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Partnership Wealth Management LLC bought a new stake in Alphabet in the 4th quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth about $34,000. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth about $34,000. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet during the 2nd quarter worth about $37,000. Finally, Hoese & Co LLP grew its stake in Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after buying an additional 100 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold a total of 178,383 shares of company stock worth $30,906,970 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $165.11 on Tuesday. The company has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.22 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a fifty day moving average price of $174.78 and a 200-day moving average price of $165.53.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data 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 net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the prior year, the business posted $1.44 earnings per share. Alphabet’s revenue was up 13.6% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is 12.27%.

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.