Resonant Capital Advisors LLC Has $8.70 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Resonant Capital Advisors LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,413 shares of the information services provider’s stock after purchasing an additional 452 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Alphabet were worth $8,696,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GOOG. Gilbert & Cook Inc. grew its holdings in shares of Alphabet by 15.5% during the 4th quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock worth $4,109,000 after purchasing an additional 3,924 shares in the last quarter. Concentrum Wealth Management lifted its position in Alphabet by 25.0% in the fourth quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock worth $2,317,000 after purchasing an additional 3,283 shares during the period. Aveo Capital Partners LLC boosted its stake in Alphabet by 2.4% during the fourth quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock worth $937,000 after buying an additional 154 shares in the last quarter. Meridian Wealth Advisors LLC increased its holdings in Alphabet by 0.5% in the 4th quarter. Meridian Wealth Advisors LLC now owns 17,950 shares of the information services provider’s stock valued at $2,530,000 after buying an additional 84 shares during the period. Finally, Bogart Wealth LLC raised its stake in shares of Alphabet by 8.2% in the 4th quarter. Bogart Wealth LLC now owns 3,287 shares of the information services provider’s stock valued at $463,000 after buying an additional 248 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on GOOG shares. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Oppenheimer increased their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. TD Cowen boosted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. One 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 data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $182.86.

Insider Buying and Selling

In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value 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 disclosure for this sale can be found here. Insiders sold 156,565 shares of company stock worth $27,043,340 in the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $157.81 on Thursday. The business’s fifty day moving average is $173.69 and its two-hundred day moving average is $165.59. 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 firm has a market cap of $1.95 trillion, a P/E ratio of 24.20, a P/E/G ratio of 1.22 and a beta of 1.05. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.44 EPS. Equities research analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

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.