Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by LMG Wealth Partners LLC

LMG Wealth Partners LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.5% in the second quarter, HoldingsChannel.com reports. The fund owned 10,172 shares of the information services provider’s stock after buying an additional 441 shares during the quarter. LMG Wealth Partners LLC’s holdings in Alphabet were worth $1,853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Christopher J. Hasenberg Inc raised its holdings in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet in the fourth quarter valued at approximately $30,000. Tributary Capital Management LLC acquired a new position in Alphabet during the first quarter worth approximately $30,000. Kings Path Partners LLC purchased a new position in Alphabet during the second quarter worth approximately $36,000. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, Director John L. Hennessy sold 800 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the sale, the director now directly owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 180,167 shares of company stock worth $30,139,931. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research report on Monday. DA Davidson began coverage on Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective on the stock. Citigroup raised their price target on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Finally, Wolfe Research began coverage on Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $201.08.

Alphabet Price Performance

NASDAQ GOOGL opened at $158.06 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a 50 day simple moving average of $166.84 and a 200-day simple moving average of $165.01. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the firm posted $1.44 EPS. Equities research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.