Strategic Financial Concepts LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Strategic Financial Concepts LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 14,914.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 998,642 shares of the information services provider’s stock after purchasing an additional 991,991 shares during the period. Strategic Financial Concepts LLC’s holdings in Alphabet were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Partnership Wealth Management LLC purchased a new stake in shares of Alphabet in the fourth quarter worth about $26,000. 1620 Investment Advisors Inc. acquired a new position in Alphabet during the 2nd quarter worth approximately $37,000. Richardson Financial Services Inc. purchased a new position in Alphabet in the 4th quarter worth approximately $34,000. Slocum Gordon & Co LLP acquired a new stake in Alphabet in the second quarter valued at approximately $44,000. Finally, Hoese & Co LLP raised its stake in shares of 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 purchasing an additional 100 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GOOG. TD Cowen upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Oppenheimer raised their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Alphabet Trading Down 1.7 %

NASDAQ:GOOG opened at $149.54 on Tuesday. The company has a market cap of $1.84 trillion, a PE ratio of 22.94, a P/E/G ratio of 1.13 and a beta of 1.04. The business’s 50 day moving average is $171.80 and its two-hundred day moving average is $165.96. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31.

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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same period last year, the business posted $1.44 earnings per share. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated 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 $5,623,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction 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 sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The disclosure for this sale can be found here. Insiders sold a total of 200,532 shares of company stock valued at $34,055,874 in the last quarter. Insiders own 12.99% of the company’s stock.

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.