Abich Financial Wealth Management LLC Acquires 184 Shares of Alphabet Inc. (NASDAQ:GOOG)

Abich Financial Wealth Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 9,200.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 186 shares of the information services provider’s stock after acquiring an additional 184 shares during the period. Abich Financial Wealth Management LLC’s holdings in Alphabet were worth $34,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Richardson Financial Services Inc. bought a new position in shares of Alphabet in the fourth quarter worth about $34,000. 1620 Investment Advisors Inc. bought a new position in Alphabet in the 2nd quarter valued at approximately $37,000. Slocum Gordon & Co LLP bought a new stake in shares of Alphabet during the second quarter worth $44,000. Hoese & Co LLP increased its holdings in shares of Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares in the last quarter. Finally, Iron Horse Wealth Management LLC bought a new position in shares of Alphabet in the 2nd quarter valued at $48,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Down 0.4 %

GOOG opened at $162.99 on Thursday. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a fifty day moving average of $165.32 and a 200-day moving average of $167.65. The stock has a market cap of $2.01 trillion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. 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 issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating 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 business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the prior year, the firm posted $1.44 earnings per share. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, sell-side analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced 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 of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, 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 available through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were 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 $1,655.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 203,367 shares of company stock valued at $34,079,756. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Oppenheimer reduced their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, TD Cowen increased their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.29.

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.