Apeiron RIA LLC Purchases New Position in Alphabet Inc. (NASDAQ:GOOG)

Apeiron RIA LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,321 shares of the information services provider’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Partnership Wealth Management LLC purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $26,000. Equitec Proprietary Markets LLC purchased a new position in Alphabet during the fourth quarter valued at $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at about $32,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth about $34,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of Alphabet during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 2.1 %

Shares of NASDAQ:GOOG traded down $3.52 during midday trading on Wednesday, reaching $162.41. 2,857,717 shares of the company’s stock were exchanged, compared to its average volume of 20,396,211. The stock has a market cap of $2.01 trillion, a price-to-earnings ratio of 25.45, a P/E/G ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The firm’s 50 day simple moving average is $178.20 and its two-hundred day simple moving average is $163.67. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share 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 during the quarter, compared to analysts’ expectations of $84.22 billion. During the same period last year, the business earned $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, sell-side analysts forecast that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the sale, the director now owns 30,024 shares in the company, valued at approximately $4,894,812.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $163.03, for a total value of $130,424.00. Following the completion of the transaction, the director now owns 30,024 shares in the company, valued at $4,894,812.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the chief executive officer now owns 2,227,385 shares in the company, valued at $415,941,874.90. The disclosure for this sale can be found here. Insiders have sold 121,608 shares of company stock worth $21,567,504 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several research reports. TD Cowen boosted their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Oppenheimer raised their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Stifel Nicolaus upped their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Rosenblatt Securities cut shares of 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. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Buy” and a consensus price target of $182.86.

Alphabet 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.