Angeles Wealth Management LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Angeles Wealth Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 15.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 34,775 shares of the information services provider’s stock after purchasing an additional 4,757 shares during the period. Alphabet comprises 0.6% of Angeles Wealth Management LLC’s investment portfolio, making the stock its 27th largest position. Angeles Wealth Management LLC’s holdings in Alphabet were worth $6,378,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morling Financial Advisors LLC boosted its position in shares of Alphabet by 9.5% in the 2nd quarter. Morling Financial Advisors LLC now owns 5,036 shares of the information services provider’s stock worth $924,000 after purchasing an additional 438 shares in the last quarter. MGO One Seven LLC boosted its holdings in Alphabet by 2.0% in the second quarter. MGO One Seven LLC now owns 77,215 shares of the information services provider’s stock worth $14,163,000 after acquiring an additional 1,515 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Alphabet in the second quarter worth $10,964,000. Coldstream Capital Management Inc. raised its position in shares of Alphabet by 1.0% in the 2nd quarter. Coldstream Capital Management Inc. now owns 102,038 shares of the information services provider’s stock worth $18,716,000 after purchasing an additional 995 shares during the last quarter. Finally, Vantage Financial Partners LLC bought a new position in Alphabet in the 2nd quarter worth about $205,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GOOG shares. Rosenblatt Securities lowered shares of 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. Oppenheimer boosted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday. Finally, TD Cowen upped their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Three investment 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 201,867 shares of company stock worth $34,218,581. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

GOOG stock opened at $155.54 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The company has a market cap of $1.92 trillion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The stock’s fifty day moving average price is $169.73 and its 200-day moving average price is $165.83.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the previous year, the company posted $1.44 EPS. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.51%. Alphabet’s payout ratio is presently 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.