Index Fund Advisors Inc. Buys 260 Shares of Alphabet Inc. (NASDAQ:GOOG)

Index Fund Advisors Inc. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,900 shares of the information services provider’s stock after purchasing an additional 260 shares during the quarter. Index Fund Advisors Inc.’s holdings in Alphabet were worth $532,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Partnership Wealth Management LLC bought a new position in Alphabet in the fourth quarter worth $26,000. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at $34,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet in the second quarter valued at $37,000. Hoese & Co LLP increased its stake in shares of Alphabet by 62.5% in the second 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 in the last quarter. Finally, Iron Horse Wealth Management LLC acquired a new stake in shares of Alphabet in the second quarter valued at $48,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s 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 sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was 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. Over the last three months, insiders have sold 200,532 shares of company stock worth $34,055,874. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. TD Cowen raised their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Oppenheimer boosted their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $182.86.

Alphabet Price Performance

Shares of GOOG opened at $152.13 on Friday. The company has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 23.33, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. The business has a 50-day moving average of $172.50 and a 200-day moving average of $165.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter last year, the firm posted $1.44 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.63 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 16th. Investors of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. Alphabet’s dividend payout ratio (DPR) is currently 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.