MBM Wealth Consultants LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOG)

MBM Wealth Consultants LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 7.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,891 shares of the information services provider’s stock after acquiring an additional 581 shares during the period. MBM Wealth Consultants LLC’s holdings in Alphabet were worth $1,486,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Richardson Financial Services Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth about $34,000. Abich Financial Wealth Management LLC boosted its position in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Alphabet in the 2nd quarter worth approximately $37,000. HWG Holdings LP acquired a new position in Alphabet in the 2nd quarter valued at $40,000. Finally, Slocum Gordon & Co LLP purchased a new position in shares of Alphabet during the 2nd quarter worth $44,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Down 2.5 %

Shares of GOOG stock opened at $164.39 on Tuesday. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The firm’s 50 day moving average price is $163.53 and its two-hundred day moving average price is $168.91. The stock has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the previous year, the business posted $1.44 EPS. The business’s quarterly revenue was up 13.6% on a year-over-year basis. On average, analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GOOG. UBS Group lowered their price objective on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday. TD Cowen lifted 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. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Oppenheimer lowered their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Finally, Pivotal Research began coverage on shares of Alphabet in a research note on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target on the stock. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $184.11.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares in the company, valued at $5,728,640.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now owns 30,824 shares in the company, valued at $5,728,640.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 217,592 shares of company stock worth $35,922,911. 12.99% of the stock is currently owned by company insiders.

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.