Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Horizon Wealth Management LLC

Horizon Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 15.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,909 shares of the information services provider’s stock after buying an additional 1,601 shares during the quarter. Alphabet accounts for 0.5% of Horizon Wealth Management LLC’s holdings, making the stock its 21st largest position. Horizon Wealth Management LLC’s holdings in Alphabet were worth $2,184,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in Alphabet in the 4th quarter worth approximately $8,232,000. AIA Group Ltd boosted its stake in Alphabet by 11.5% in the 4th quarter. AIA Group Ltd now owns 65,052 shares of the information services provider’s stock worth $9,168,000 after purchasing an additional 6,694 shares during the period. Tiller Private Wealth Inc. boosted its stake in Alphabet by 3.1% in the 4th quarter. Tiller Private Wealth Inc. now owns 2,709 shares of the information services provider’s stock worth $382,000 after purchasing an additional 82 shares during the period. Xponance Inc. boosted its stake in Alphabet by 0.5% in the 4th quarter. Xponance Inc. now owns 1,172,172 shares of the information services provider’s stock worth $165,194,000 after purchasing an additional 5,980 shares during the period. Finally, Fidelis Capital Partners LLC boosted its stake in shares of Alphabet by 13.5% during the 4th quarter. Fidelis Capital Partners LLC now owns 62,414 shares of the information services provider’s stock valued at $8,796,000 after buying an additional 7,413 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG traded down $0.77 on Wednesday, reaching $168.19. The stock had a trading volume of 2,758,721 shares, compared to its average volume of 20,277,189. The company has a market capitalization of $2.08 trillion, a P/E ratio of 25.91, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. 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 has a fifty day moving average price of $177.02 and a 200-day moving average price of $164.32.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (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 analyst estimates of $84.22 billion. During the same period in the prior year, the business earned $1.44 earnings per share. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. Research analysts forecast that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Announces Dividend

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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of the transaction, the director now directly owns 3,727 shares in the company, valued at $663,107.84. The disclosure for this sale can be found here. Insiders sold 156,565 shares of company stock valued at $27,253,193 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer lifted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. TD Cowen lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, 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 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 data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and a consensus target price of $182.86.

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.