Intelligence Driven Advisers LLC Purchases 2,597 Shares of Alphabet Inc. (NASDAQ:GOOG)

Intelligence Driven Advisers LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 42.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,669 shares of the information services provider’s stock after purchasing an additional 2,597 shares during the period. Intelligence Driven Advisers LLC’s holdings in Alphabet were worth $1,590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Partnership Wealth Management LLC bought a new position in Alphabet in the 4th quarter worth approximately $26,000. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet in the second quarter worth $37,000. Richardson Financial Services Inc. bought a new position in shares of Alphabet during the fourth quarter worth $34,000. Slocum Gordon & Co LLP bought a new position in shares of Alphabet during the second quarter worth $44,000. Finally, Hoese & Co LLP grew 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 valued at $45,000 after acquiring an additional 100 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of Alphabet stock opened at $149.54 on Tuesday. The stock has a market cap of $1.84 trillion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a 50 day moving average price of $171.80 and a 200-day moving average price of $165.96. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31.

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

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.53%. Alphabet’s payout ratio is 12.27%.

Analyst Ratings Changes

GOOG has been the subject of several research reports. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Oppenheimer raised their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. TD Cowen upped their price objective 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 raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $182.86.

Insider Buying and Selling

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s 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 completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction dated 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 completion of the sale, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. 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 ninety days. 12.99% of the stock is owned by company 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.