Wealth Alliance Advisory Group LLC Acquires 1,210 Shares of Alphabet Inc. (NASDAQ:GOOG)

Wealth Alliance Advisory Group LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.5% during the 2nd quarter, Holdings Channel reports. The firm owned 19,748 shares of the information services provider’s stock after purchasing an additional 1,210 shares during the quarter. Alphabet comprises approximately 0.8% of Wealth Alliance Advisory Group LLC’s portfolio, making the stock its 25th biggest holding. Wealth Alliance Advisory Group LLC’s holdings in Alphabet were worth $3,622,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOG. Partnership Wealth Management LLC bought a new position in shares of Alphabet in the 4th quarter worth $26,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Alphabet in the fourth quarter worth $34,000. Richardson Financial Services Inc. bought a new position in Alphabet in the fourth quarter valued at $34,000. 1620 Investment Advisors Inc. purchased a new stake in Alphabet during the second quarter valued at about $37,000. Finally, Hoese & Co LLP lifted its stake in Alphabet by 62.5% during the second 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 hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GOOG. TD Cowen raised their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Oppenheimer lifted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $182.86.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,383 shares of company stock worth $30,906,970. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Up 1.0 %

Shares of NASDAQ GOOG opened at $165.11 on Monday. The firm’s fifty day moving average is $175.10 and its 200 day moving average is $165.38. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.22 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Alphabet Company 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.