TSA Wealth Managment LLC Invests $206,000 in Alphabet Inc. (NASDAQ:GOOG)

TSA Wealth Managment LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, HoldingsChannel reports. The firm purchased 1,122 shares of the information services provider’s stock, valued at approximately $206,000.

Other hedge funds also recently modified their holdings of the company. Partnership Wealth Management LLC acquired a new position in shares of Alphabet during the 4th quarter worth $26,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet during the 4th quarter worth $32,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Alphabet during the 4th quarter worth $34,000. Richardson Financial Services Inc. bought a new stake in shares of Alphabet during the 4th quarter worth $34,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet during the 2nd quarter worth $37,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GOOG shares. Oppenheimer raised their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, TD Cowen increased 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. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $182.86.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the sale, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the completion of the transaction, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at $394,746,532.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 179,065 shares of company stock worth $31,025,543. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 1.1 %

Shares of GOOG opened at $164.50 on Thursday. The stock’s 50-day moving average price is $175.92 and its 200 day moving average price is $165.02. 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 $2.03 trillion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.44 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Announces Dividend

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 issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) 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.