Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Apollon Financial LLC

Apollon Financial LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,650 shares of the information services provider’s stock after purchasing an additional 617 shares during the period. Alphabet accounts for 3.8% of Apollon Financial LLC’s holdings, making the stock its 7th biggest holding. Apollon Financial LLC’s holdings in Alphabet were worth $11,675,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Partnership Wealth Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $26,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the fourth quarter valued at $32,000. Richardson Financial Services Inc. acquired a new stake in Alphabet during the 4th quarter worth about $34,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter worth about $34,000. Finally, Hoese & Co LLP boosted its position in shares of Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of 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. 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. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Finally, Oppenheimer raised their price target on shares of 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $182.86.

Alphabet Stock Performance

NASDAQ GOOG opened at $168.40 on Tuesday. The company has a market cap of $2.08 trillion, a P/E ratio of 25.83, a PEG ratio of 1.28 and a beta of 1.05. The company has a fifty day simple moving average of $177.21 and a 200 day simple moving average of $164.14. 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 Inc. has a 12-month low of $121.46 and a 12-month high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s revenue was up 13.6% on a year-over-year basis. During the same period last year, the company earned $1.44 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the sale, the chief executive officer now owns 2,227,385 shares in the company, valued at $415,941,874.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the transaction, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The disclosure for this sale can be found here. Insiders have sold 156,565 shares of company stock worth $27,253,193 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

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.