Allegiance Financial Group Advisory Services LLC Purchases New Holdings in Alphabet Inc. (NASDAQ:GOOG)

Allegiance Financial Group Advisory Services LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,167 shares of the information services provider’s stock, valued at approximately $214,000.

A number of other hedge funds also recently modified their holdings of GOOG. Twelve Points Wealth Management LLC boosted its holdings in shares of Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after buying an additional 55 shares during the period. PCG Wealth Advisors LLC raised 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 buying an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV lifted its position in shares of 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 in the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in shares of Alphabet by 11.1% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after buying an additional 60 shares during the last quarter. Finally, Shira Ridge Wealth Management grew its holdings in shares of Alphabet by 0.4% in the 2nd quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock valued at $2,841,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of several analyst reports. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Oppenheimer upped their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. TD Cowen raised their target price 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. Finally, Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $182.86.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $167.43 on Friday. The company has a current ratio of 2.08, a quick 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 P/E/G 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 stock has a 50 day moving average of $176.34 and a 200-day moving average of $164.64.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping 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 company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.44 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Monday, June 3rd. The shares were 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 owns 29,966 shares in the company, valued at approximately $5,209,888.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 2,235,511 shares in the company, valued at approximately $394,746,532.38. The disclosure for this sale can be found here. Insiders sold a total of 179,065 shares of company stock worth $31,025,543 over the last quarter. Company insiders own 12.99% of the company’s stock.

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.