Processus Wealth & Capital Management LLC Purchases 172 Shares of Alphabet Inc. (NASDAQ:GOOG)

Processus Wealth & Capital Management LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,320 shares of the information services provider’s stock after acquiring an additional 172 shares during the quarter. Alphabet comprises 3.1% of Processus Wealth & Capital Management LLC’s holdings, making the stock its 12th largest holding. Processus Wealth & Capital Management LLC’s holdings in Alphabet were worth $3,727,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GOOG. Partnership Wealth Management LLC acquired a new position in Alphabet during the 4th quarter valued at about $26,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $32,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $34,000. Richardson Financial Services Inc. bought a new stake in Alphabet during the fourth quarter worth $34,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in Alphabet in the 2nd quarter valued at $37,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 1.2 %

NASDAQ:GOOG opened at $167.43 on Friday. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. 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 firm’s 50 day moving average is $176.34 and its 200 day moving average is $164.64. The stock has a market capitalization of $2.07 trillion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05.

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, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were 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 directly 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 accessible through this link. 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 directly owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. Insiders sold 179,065 shares of company stock worth $31,025,543 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GOOG shares. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a report on Friday, June 28th. TD Cowen boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Oppenheimer boosted 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. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average 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.