Wealthspire Advisors LLC Purchases 9,613 Shares of Alphabet Inc. (NASDAQ:GOOG)

Wealthspire Advisors LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.3% during the 2nd quarter, Holdings Channel reports. The fund owned 140,844 shares of the information services provider’s stock after buying an additional 9,613 shares during the period. Wealthspire Advisors LLC’s holdings in Alphabet were worth $25,834,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Thoroughbred Financial Services LLC increased its holdings in shares of Alphabet by 22.9% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 101,423 shares of the information services provider’s stock valued at $18,603,000 after acquiring an additional 18,893 shares during the period. TMD Wealth Management LLC grew its stake in Alphabet by 0.8% in the second quarter. TMD Wealth Management LLC now owns 11,328 shares of the information services provider’s stock valued at $2,078,000 after purchasing an additional 87 shares during the last quarter. Parallel Advisors LLC raised its holdings in Alphabet by 0.3% in the second quarter. Parallel Advisors LLC now owns 295,320 shares of the information services provider’s stock worth $54,168,000 after purchasing an additional 927 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in shares of Alphabet during the second quarter valued at about $4,728,000. Finally, SYM FINANCIAL Corp boosted its holdings in shares of Alphabet by 3,213.3% in the 2nd quarter. SYM FINANCIAL Corp now owns 1,491 shares of the information services provider’s stock valued at $274,000 after buying an additional 1,446 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’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 sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider John Kent Walker sold 21,467 shares of the stock in a transaction on 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 sale, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The shares were 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 directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders sold a total of 201,867 shares of company stock valued at $34,218,581 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Up 1.8 %

Alphabet stock opened at $158.37 on Monday. The stock has a 50-day moving average price of $169.06 and a 200 day moving average price of $166.35. The company has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. 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 (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.44 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GOOG. TD Cowen increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $182.86.

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.