Aprio Wealth Management LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Aprio Wealth Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,744 shares of the information services provider’s stock after acquiring an additional 650 shares during the quarter. Aprio Wealth Management LLC’s holdings in Alphabet were worth $1,295,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Richardson Financial Services Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $34,000. Abich Financial Wealth Management LLC boosted its stake in shares of Alphabet by 9,200.0% during the 2nd 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 in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet during the 2nd quarter worth approximately $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet during the 2nd quarter worth approximately $40,000. Finally, Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet during the 2nd quarter worth approximately $44,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 2.5 %

Shares of GOOG opened at $164.39 on Tuesday. The stock has a fifty day moving average of $163.53 and a two-hundred day moving average of $168.91. 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 company has a market capitalization of $2.03 trillion, a PE ratio of 25.21, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly 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 return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the previous year, the firm posted $1.44 EPS. Alphabet’s revenue was up 13.6% on a year-over-year basis. As a group, analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 217,592 shares of company stock valued at $35,922,911 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research reports. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. TD Cowen lifted their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. UBS Group cut 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. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Pivotal Research initiated coverage on Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.11.

Alphabet Profile

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.