Wealth Alliance Has $3.50 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Wealth Alliance grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,058 shares of the information services provider’s stock after acquiring an additional 305 shares during the period. Wealth Alliance’s holdings in Alphabet were worth $3,496,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Financial & Tax Architects LLC boosted its position in shares of Alphabet by 12.8% during the 2nd quarter. Financial & Tax Architects LLC now owns 8,033 shares of the information services provider’s stock worth $1,473,000 after purchasing an additional 913 shares in the last quarter. Axxcess Wealth Management LLC boosted its position in shares of Alphabet by 2.3% during the 2nd quarter. Axxcess Wealth Management LLC now owns 131,407 shares of the information services provider’s stock worth $23,385,000 after purchasing an additional 2,965 shares in the last quarter. Fairway Wealth LLC bought a new position in shares of Alphabet during the 2nd quarter worth about $70,000. Perennial Investment Advisors LLC boosted its position in shares of Alphabet by 2.4% during the 2nd quarter. Perennial Investment Advisors LLC now owns 20,914 shares of the information services provider’s stock worth $3,837,000 after purchasing an additional 487 shares in the last quarter. Finally, Pitti Group Wealth Management LLC boosted its position in shares of Alphabet by 3.9% during the 2nd quarter. Pitti Group Wealth Management LLC now owns 4,103 shares of the information services provider’s stock worth $753,000 after purchasing an additional 155 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $160.81 on Thursday. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The stock has a market cap of $1.99 trillion, a price-to-earnings ratio of 24.66, a PEG ratio of 1.13 and a beta of 1.04. 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 firm’s 50-day simple moving average is $167.19 and its 200 day simple moving average is $166.60.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS 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 firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter last year, the firm earned $1.44 EPS. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet’s dividend payout ratio is currently 12.27%.

Insiders Place Their Bets

In other Alphabet 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 transaction, 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 legal filing with the SEC, which is available through this link. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 202,667 shares of company stock valued at $33,964,256 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on GOOG. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. TD Cowen increased 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. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Oppenheimer raised their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.86.

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.