UP Strategic Wealth Investment Advisors LLC Acquires 160 Shares of Alphabet Inc. (NASDAQ:GOOG)

UP Strategic Wealth Investment Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,110 shares of the information services provider’s stock after acquiring an additional 160 shares during the period. Alphabet accounts for approximately 0.9% of UP Strategic Wealth Investment Advisors LLC’s holdings, making the stock its 26th biggest holding. UP Strategic Wealth Investment Advisors LLC’s holdings in Alphabet were worth $570,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. XTX Topco Ltd boosted its stake in Alphabet by 204.9% during the second quarter. XTX Topco Ltd now owns 36,938 shares of the information services provider’s stock worth $6,775,000 after buying an additional 24,824 shares during the period. Mark Sheptoff Financial Planning LLC lifted its holdings in shares of Alphabet by 33.5% in the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 801 shares of the information services provider’s stock worth $147,000 after acquiring an additional 201 shares during the last quarter. Somerset Group LLC boosted its stake in shares of Alphabet by 1.5% during the 2nd quarter. Somerset Group LLC now owns 10,501 shares of the information services provider’s stock worth $1,926,000 after purchasing an additional 156 shares during the period. Concorde Asset Management LLC bought a new position in Alphabet during the 2nd quarter valued at about $218,000. Finally, WCG Wealth Advisors LLC raised its position in Alphabet by 20.3% in the 2nd quarter. WCG Wealth Advisors LLC now owns 26,937 shares of the information services provider’s stock worth $4,941,000 after purchasing an additional 4,539 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $163.24 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average price is $166.71 and its 200-day moving average price is $166.58. The firm has a market cap of $2.02 trillion, a P/E ratio of 25.04, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its earnings results 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 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 the consensus estimate of $84.22 billion. During the same quarter last year, the firm posted $1.44 EPS. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, equities research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,667 shares of company stock valued at $33,964,256. 12.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. TD Cowen upped their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Oppenheimer increased their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average 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.