Rockport Wealth LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Rockport Wealth LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 134.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,365 shares of the information services provider’s stock after purchasing an additional 2,500 shares during the period. Alphabet makes up approximately 0.3% of Rockport Wealth LLC’s holdings, making the stock its 29th largest position. Rockport Wealth LLC’s holdings in Alphabet were worth $801,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Twelve Points Wealth Management LLC increased its holdings in Alphabet by 0.7% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after acquiring an additional 55 shares in the last quarter. PCG Wealth Advisors LLC increased its stake in shares of Alphabet by 3.1% during the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after purchasing an additional 57 shares in the last quarter. Investment Advisory Services Inc. TX ADV increased its stake in shares of Alphabet by 1.6% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after purchasing an additional 57 shares in the last quarter. Advisors Management Group Inc. ADV raised its position in shares of Alphabet by 2.0% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after purchasing an additional 58 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC lifted its stake in Alphabet by 11.1% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after buying an additional 60 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, 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 SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 203,367 shares of company stock worth $34,079,756. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.9 %

NASDAQ GOOG opened at $165.29 on Friday. The business’s fifty day simple moving average is $164.34 and its 200-day simple moving average is $167.77. 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 cap of $2.04 trillion, a PE ratio of 25.35, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its 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 company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the previous year, the firm earned $1.44 earnings per share. Alphabet’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Analysts Set New Price Targets

Several equities research analysts have commented on GOOG shares. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Oppenheimer dropped their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.29.

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.