MONECO Advisors LLC Acquires 1,154 Shares of Alphabet Inc. (NASDAQ:GOOG)

MONECO Advisors LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,543 shares of the information services provider’s stock after acquiring an additional 1,154 shares during the quarter. MONECO Advisors LLC’s holdings in Alphabet were worth $2,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Twelve Points Wealth Management LLC lifted its holdings in shares of Alphabet by 0.7% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after acquiring an additional 55 shares during the last quarter. PCG Wealth Advisors LLC grew its position in Alphabet by 3.1% in the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after acquiring an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV increased its stake in Alphabet by 1.6% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after purchasing an additional 57 shares during the period. Mark Sheptoff Financial Planning LLC lifted its position in shares of Alphabet by 11.1% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after purchasing an additional 60 shares during the last quarter. Finally, Shira Ridge Wealth Management boosted its stake in shares of Alphabet by 0.4% during the second quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock valued at $2,841,000 after purchasing an additional 60 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

GOOG stock opened at $168.40 on Tuesday. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The firm has a market cap of $2.08 trillion, a price-to-earnings ratio of 25.83, a PEG ratio of 1.28 and a beta of 1.05. 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 firm has a 50-day simple moving average of $177.21 and a two-hundred day simple moving average of $164.14.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $84.22 billion. During the same period last year, the firm earned $1.44 earnings per share. Alphabet’s revenue was up 13.6% compared to the same quarter last year. On average, equities analysts forecast 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. Investors 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 dividend payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was 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 owns 2,235,511 shares in the company, valued at $394,746,532.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, 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 completion of the sale, the chief executive officer now directly owns 2,235,511 shares in the company, valued at $394,746,532.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,565 shares of company stock worth $27,253,193. 12.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. TD Cowen boosted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Oppenheimer raised their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and a consensus price target 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.