Level Financial Advisors Buys Shares of 1,360 Alphabet Inc. (NASDAQ:GOOG)

Level Financial Advisors bought a new stake in Alphabet Inc. (NASDAQ:GOOG) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,360 shares of the information services provider’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC increased its holdings in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in Alphabet during the 2nd quarter worth about $37,000. HWG Holdings LP purchased a new stake in Alphabet during the 2nd quarter worth about $40,000. Richardson Financial Services Inc. purchased a new stake in Alphabet during the 4th quarter worth about $34,000. Finally, Slocum Gordon & Co LLP purchased a new stake in Alphabet during the 2nd quarter worth about $44,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 216,092 shares of company stock valued at $35,644,136 in the last three months. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on GOOG shares. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Pivotal Research started coverage on Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price objective on the stock. Scotiabank started coverage on Alphabet in a report on Friday. They issued a “sector outperform” rating and a $212.00 price objective on the stock. UBS Group dropped their price objective on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. Finally, Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a report on Friday, June 28th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $186.90.

Alphabet Trading Up 0.8 %

Shares of GOOG stock opened at $164.52 on Friday. The business’s 50 day moving average is $162.81 and its two-hundred day moving average is $169.13. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a market capitalization of $2.03 trillion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period last year, the firm earned $1.44 EPS. Equities analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 11.48%.

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.