Modera Wealth Management LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 373,544 shares of the information services provider’s stock after selling 799 shares during the period. Alphabet accounts for approximately 1.0% of Modera Wealth Management LLC’s investment portfolio, making the stock its 27th largest holding. Modera Wealth Management LLC’s holdings in Alphabet were worth $68,515,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Partnership Wealth Management LLC bought a new position in shares of Alphabet in the 4th quarter worth $26,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter worth $34,000. Richardson Financial Services Inc. bought a new position in shares of Alphabet in the 4th quarter worth $34,000. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet in the 2nd quarter worth $37,000. Finally, Hoese & Co LLP boosted its position in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.
Alphabet Price Performance
NASDAQ:GOOG opened at $165.11 on Friday. The stock’s 50-day simple moving average is $175.40 and its 200 day simple moving average is $165.01. The company has a market cap of $2.04 trillion, a P/E ratio of 25.32, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31.
Alphabet Dividend Announcement
The firm also recently declared 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on GOOG shares. Oppenheimer raised their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. TD Cowen lifted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and an average target price of $182.86.
Read Our Latest Research Report on GOOG
Insider Activity
In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $415,941,874.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’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 value of $4,201,650.00. Following the completion of the sale, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 179,065 shares of company stock valued at $31,025,543. 12.99% of the stock is owned by insiders.
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.
See Also
- Five stocks we like better than Alphabet
- Consumer Staples Stocks, Explained
- The Solar Stock Battle: Is Daqo or JinkoSolar Your Next Big Win?
- Stock Market Holidays 2022-2025 – Here’s When the NYSE and NASDAQ Will be Closed
- Are These Chinese Stocks a Buy? Michael Burry’s Top Picks Say Yes
- 3 Must-Buy Warren Buffett Stocks for Volatile Times
- Five Below Stock Faces Challenges Despite Strong Revenue Growth
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.