Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Laidlaw Wealth Management LLC

Laidlaw Wealth Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 28.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,127 shares of the information services provider’s stock after purchasing an additional 3,799 shares during the period. Alphabet makes up 1.7% of Laidlaw Wealth Management LLC’s portfolio, making the stock its 13th biggest position. Laidlaw Wealth Management LLC’s holdings in Alphabet were worth $3,141,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Park Avenue Securities LLC grew its holdings in Alphabet by 11.9% during the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after acquiring an additional 11,646 shares in the last quarter. Colonial River Wealth Management LLC lifted its position in shares of Alphabet by 5.3% in the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after buying an additional 107 shares during the last quarter. Apexium Financial LP lifted its position in shares of Alphabet by 335.9% in the 4th quarter. Apexium Financial LP now owns 53,823 shares of the information services provider’s stock worth $7,586,000 after buying an additional 41,476 shares during the last quarter. Oak Ridge Investments LLC lifted its position in shares of Alphabet by 4.6% in the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after buying an additional 8,201 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its position in shares of Alphabet by 0.7% in the 1st quarter. V Square Quantitative Management LLC now owns 62,917 shares of the information services provider’s stock worth $9,580,000 after buying an additional 426 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider John Kent Walker sold 21,467 shares of the business’s 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 directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were 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 in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders have sold 200,532 shares of company stock valued at $34,055,874 in the last quarter. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of recent research reports. TD Cowen raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Oppenheimer lifted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, 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 research report on Friday, June 28th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and an average price target of $182.86.

Alphabet Stock Up 0.5 %

GOOG stock opened at $158.60 on Friday. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. The firm’s 50-day moving average is $173.13 and its two-hundred day moving average is $165.54. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data 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 company 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 business’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.44 EPS. On average, analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet’s dividend payout ratio is currently 12.27%.

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.