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

Instrumental Wealth LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,364 shares of the information services provider’s stock after purchasing an additional 270 shares during the quarter. Alphabet comprises 0.6% of Instrumental Wealth LLC’s portfolio, making the stock its 19th biggest position. Instrumental Wealth LLC’s holdings in Alphabet were worth $569,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Partnership Wealth Management LLC purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $26,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet in the fourth quarter worth about $32,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth about $34,000. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet during the 4th quarter valued at about $34,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet in the 2nd quarter valued at about $37,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the sale, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The disclosure for this sale can be found here. Insiders have sold 179,065 shares of company stock worth $31,025,543 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG traded down $1.55 during mid-day trading on Tuesday, reaching $166.38. The company’s stock had a trading volume of 13,694,881 shares, compared to its average volume of 20,219,568. The stock has a 50-day moving average of $176.13 and a two-hundred day moving average of $164.91. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market capitalization of $2.06 trillion, a P/E ratio of 25.52, a P/E/G 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.

Alphabet (NASDAQ:GOOG) last released 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 the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.44 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm 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 dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOG. 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. TD Cowen lifted their price target 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. 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 report on Friday, June 28th. Finally, Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $182.86.

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.