Alphabet Inc. (NASDAQ:GOOG) Stock Position Raised by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,438 shares of the information services provider’s stock after acquiring an additional 781 shares during the period. Alphabet accounts for about 1.2% of Gilliland Jeter Wealth Management LLC’s investment portfolio, making the stock its 17th biggest holding. Gilliland Jeter Wealth Management LLC’s holdings in Alphabet were worth $3,565,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new stake in shares of Alphabet in the 4th quarter worth about $8,232,000. GUNN & Co INVESTMENT MANAGEMENT INC. raised its holdings in shares of Alphabet by 964.3% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 482,698 shares of the information services provider’s stock valued at $68,027,000 after buying an additional 437,345 shares during the last quarter. Fountainhead AM LLC boosted its position in shares of Alphabet by 5.6% during the fourth quarter. Fountainhead AM LLC now owns 3,204 shares of the information services provider’s stock worth $452,000 after buying an additional 169 shares during the period. Panview Asian Equity Master Fund bought a new position in Alphabet in the 4th quarter worth approximately $20,012,000. Finally, Acas LLC increased its position in Alphabet by 11.5% in the 4th quarter. Acas LLC now owns 2,277 shares of the information services provider’s stock valued at $321,000 after acquiring an additional 235 shares during the period. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the sale, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred 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 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 accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the sale, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The disclosure for this sale can be found here. Insiders have sold a total of 179,065 shares of company stock valued at $31,025,543 in the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOG traded up $1.94 during trading hours on Friday, reaching $167.43. 14,281,621 shares of the company’s stock were exchanged, compared to its average volume of 20,309,939. 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 company has a market capitalization of $2.07 trillion, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The business’s 50-day simple moving average is $176.34 and its two-hundred day simple moving average is $164.50.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data 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. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.44 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a dividend of $0.20 per share. 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 12.27%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GOOG shares. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. TD Cowen boosted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Oppenheimer upped their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. One 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’s stock. According to MarketBeat, Alphabet currently 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.