Advisory Alpha LLC Purchases 1,310 Shares of Alphabet Inc. (NASDAQ:GOOG)

Advisory Alpha LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,536 shares of the information services provider’s stock after buying an additional 1,310 shares during the quarter. Advisory Alpha LLC’s holdings in Alphabet were worth $2,850,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. 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 valued at $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet in the second quarter valued at approximately $37,000. HWG Holdings LP acquired a new stake in shares of Alphabet in the second quarter valued at approximately $40,000. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $34,000. Finally, Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet in the second quarter valued at approximately $44,000. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GOOG shares. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. TD Cowen raised 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. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Oppenheimer dropped their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Three investment 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $179.29.

Alphabet Price Performance

Alphabet stock opened at $167.19 on Tuesday. The stock’s fifty day moving average price is $164.02 and its two-hundred day moving average price is $168.32. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market cap of $2.07 trillion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $84.22 billion. During the same quarter last year, the company earned $1.44 EPS. The company’s revenue was up 13.6% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared 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 of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s payout ratio is 12.27%.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on 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 transaction, the chief executive officer now owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction 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 in the company, valued at approximately $415,941,874.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The disclosure for this sale can be found here. In the last quarter, insiders have sold 216,225 shares of company stock worth $36,134,681. Insiders own 12.99% of the company’s stock.

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.