Next Level Private LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

Next Level Private LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,181 shares of the information services provider’s stock after buying an additional 87 shares during the quarter. Alphabet comprises 2.3% of Next Level Private LLC’s portfolio, making the stock its 13th biggest holding. Next Level Private LLC’s holdings in Alphabet were worth $4,986,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Midland Wealth Advisors LLC grew its stake in shares of Alphabet by 7.7% in the 2nd quarter. Midland Wealth Advisors LLC now owns 12,606 shares of the information services provider’s stock worth $2,312,000 after buying an additional 901 shares in the last quarter. Magnus Financial Group LLC lifted its holdings in shares of Alphabet by 3.6% in the 2nd quarter. Magnus Financial Group LLC now owns 16,791 shares of the information services provider’s stock valued at $3,080,000 after acquiring an additional 588 shares during the last quarter. LMG Wealth Partners LLC lifted its holdings in shares of Alphabet by 0.5% in the 2nd quarter. LMG Wealth Partners LLC now owns 14,316 shares of the information services provider’s stock valued at $2,626,000 after acquiring an additional 70 shares during the last quarter. Legacy Capital Wealth Partners LLC purchased a new position in Alphabet in the second quarter worth about $619,000. Finally, Whalen Wealth Management Inc. increased its stake in Alphabet by 15.0% during the second quarter. Whalen Wealth Management Inc. now owns 9,572 shares of the information services provider’s stock worth $1,756,000 after acquiring an additional 1,248 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $158.60 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 stock’s fifty day moving average is $173.13 and its two-hundred day moving average is $165.54. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a market capitalization of $1.96 trillion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Analysts Set New Price Targets

Several research firms have recently issued reports on GOOG. Rosenblatt Securities lowered 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. TD Cowen raised their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Oppenheimer boosted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $182.86.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was 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 directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other 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 in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 200,532 shares of company stock worth $34,055,874. Company insiders own 12.99% of the company’s stock.

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.