Heritage Wealth Management Inc. Acquires Shares of 9,010 Alphabet Inc. (NASDAQ:GOOG)

Heritage Wealth Management Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,010 shares of the information services provider’s stock, valued at approximately $1,730,000.

A number of other hedge funds have also recently modified their holdings of GOOG. Jones Financial Companies Lllp increased its position in shares of Alphabet by 15.3% in the fourth quarter. Jones Financial Companies Lllp now owns 8,370 shares of the information services provider’s stock valued at $1,180,000 after acquiring an additional 1,113 shares during the period. Capital International Sarl increased its position in shares of Alphabet by 9.9% during the fourth quarter. Capital International Sarl now owns 273,256 shares of the information services provider’s stock valued at $38,510,000 after buying an additional 24,610 shares during the period. 360 Financial Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at about $289,000. Tower Research Capital LLC TRC increased its position in shares of Alphabet by 134.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 751,090 shares of the information services provider’s stock valued at $105,851,000 after buying an additional 430,174 shares during the period. Finally, Crossmark Global Holdings Inc. increased its position in shares of Alphabet by 28.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 404,285 shares of the information services provider’s stock valued at $56,976,000 after buying an additional 89,284 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GOOG. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Pivotal Research began coverage on shares of Alphabet in a research report on Tuesday. They set a “buy” rating and a $215.00 price target on the stock. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, TD Cowen boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $183.75.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 21,467 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 193,725 shares of company stock worth $31,933,031. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.7 %

NASDAQ:GOOG opened at $168.42 on Wednesday. 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 company’s 50-day simple moving average is $163.71 and its 200 day simple moving average is $168.51. The firm has a market capitalization of $2.08 trillion, a P/E ratio of 25.83, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

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

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.