Advyzon Investment Management LLC Acquires 1,972 Shares of Alphabet Inc. $GOOG

Advyzon Investment Management LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 19.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,168 shares of the information services provider’s stock after acquiring an additional 1,972 shares during the quarter. Advyzon Investment Management LLC’s holdings in Alphabet were worth $2,159,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. RDA Financial Network lifted its holdings in Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after purchasing an additional 554 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Alphabet by 1.4% in the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after purchasing an additional 2,304 shares in the last quarter. Oldfather Financial Services LLC bought a new position in Alphabet during the second quarter valued at approximately $213,000. Tower View Wealth Management LLC increased its holdings in shares of Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after buying an additional 1,776 shares during the period. Finally, Dock Street Asset Management Inc. increased its stake in shares of Alphabet by 0.8% in the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after buying an additional 1,970 shares during the period. 27.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOG. Sanford C. Bernstein increased their price objective on Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Raymond James Financial set a $275.00 price objective on shares of Alphabet and gave the stock an “outperform” rating in a research note on Friday, October 24th. Scotiabank set a $336.00 price target on Alphabet and gave the stock a “sector outperform” rating in a research note on Thursday, October 30th. Finally, Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $282.33, for a total transaction of $269,342.82. Following the sale, the chief accounting officer directly owned 14,517 shares in the company, valued at $4,098,584.61. This trade represents a 6.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 221,796 shares of company stock worth $53,983,001 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.4%

Shares of NASDAQ GOOG opened at $291.74 on Wednesday. The firm has a 50-day simple moving average of $254.94 and a two-hundred day simple moving average of $207.64. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $292.34. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market cap of $3.53 trillion, a P/E ratio of 28.77, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.12 earnings per share. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

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.