Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Alaethes Wealth LLC

Alaethes Wealth LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the 2nd quarter, Holdings Channel reports. The firm owned 30,295 shares of the information services provider’s stock after buying an additional 489 shares during the period. Alphabet accounts for approximately 2.3% of Alaethes Wealth LLC’s investment portfolio, making the stock its 9th biggest holding. Alaethes Wealth LLC’s holdings in Alphabet were worth $5,557,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Gilbert & Cook Inc. increased its position in shares of Alphabet by 15.5% during the fourth quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock worth $4,109,000 after acquiring an additional 3,924 shares in the last quarter. Concentrum Wealth Management lifted its stake in Alphabet by 25.0% in the 4th quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock valued at $2,317,000 after acquiring an additional 3,283 shares in the last quarter. Aveo Capital Partners LLC boosted its position in Alphabet by 2.4% during the 4th quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock worth $937,000 after acquiring an additional 154 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Alphabet during the 4th quarter worth approximately $620,000. Finally, GW&K Investment Management LLC raised its holdings in shares of Alphabet by 13.3% in the fourth quarter. GW&K Investment Management LLC now owns 3,434 shares of the information services provider’s stock valued at $484,000 after purchasing an additional 402 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Up 0.9 %

Shares of NASDAQ:GOOG opened at $164.64 on Friday. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market capitalization of $2.03 trillion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a 50-day simple moving average of $166.26 and a 200 day simple moving average of $166.79.

Alphabet (NASDAQ:GOOG) last issued its 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 return on equity of 30.49% and a net margin of 26.70%. The company 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 firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’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 completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 700 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now directly owns 29,324 shares in the company, valued at approximately $4,838,460. The disclosure for this sale can be found here. Insiders have sold 202,667 shares of company stock valued at $33,964,256 over the last ninety days. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Rosenblatt Securities downgraded 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. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. TD Cowen upped their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average 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.