Morling Financial Advisors LLC Buys 438 Shares of Alphabet Inc. (NASDAQ:GOOG)

Morling Financial Advisors LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,036 shares of the information services provider’s stock after acquiring an additional 438 shares during the period. Alphabet comprises approximately 0.4% of Morling Financial Advisors LLC’s investment portfolio, making the stock its 27th largest holding. Morling Financial Advisors LLC’s holdings in Alphabet were worth $924,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Park Avenue Securities LLC raised its stake in shares of 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 purchasing an additional 11,646 shares during the period. Colonial River Wealth Management LLC raised its stake in shares of Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after purchasing an additional 107 shares during the period. Oak Ridge Investments LLC raised its stake in shares of Alphabet by 4.6% during the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after purchasing an additional 8,201 shares during the period. V Square Quantitative Management LLC raised its stake in shares of Alphabet by 0.7% during 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 purchasing an additional 426 shares during the period. Finally, AMG National Trust Bank raised its stake in shares of Alphabet by 1.0% during the 4th quarter. AMG National Trust Bank now owns 67,054 shares of the information services provider’s stock worth $9,450,000 after purchasing an additional 671 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 2.2 %

GOOG stock opened at $155.54 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.92 trillion, a PE ratio of 23.86, a PEG ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The stock has a 50-day simple moving average of $169.73 and a two-hundred day simple moving average of $165.83.

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

Alphabet Dividend Announcement

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 issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’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 completion of the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 201,867 shares of company stock valued at $34,218,581. 12.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent analyst reports. TD Cowen lifted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Oppenheimer boosted their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research note on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $182.86.

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.