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

Liberty Wealth Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 11,194 shares of the information services provider’s stock after buying an additional 201 shares during the quarter. Liberty Wealth Management LLC’s holdings in Alphabet were worth $2,053,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $34,000. 1620 Investment Advisors Inc. acquired a new stake in Alphabet in the second quarter valued at $37,000. Slocum Gordon & Co LLP bought a new position in Alphabet during the 2nd quarter valued at $44,000. Hoese & Co LLP grew its holdings in Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after acquiring an additional 100 shares in the last quarter. Finally, Iron Horse Wealth Management LLC bought a new stake in shares of Alphabet in the 2nd quarter worth about $48,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $152.15 on Thursday. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a fifty day moving average price of $170.36 and a 200 day moving average price of $165.90. The company has a market cap of $1.87 trillion, a P/E ratio of 23.34, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results 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 business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the prior year, the firm earned $1.44 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on GOOG. Oppenheimer lifted their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, TD Cowen boosted 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. Two analysts have 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 stock has an average rating of “Moderate Buy” and an average price target of $182.86.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated 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 owns 312,210 shares in the company, valued at $50,765,346. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,867 shares of company stock valued at $34,218,581. 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.