Greenwich Wealth Management LLC Has $1.90 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Greenwich Wealth Management LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 25.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,334 shares of the information services provider’s stock after purchasing an additional 2,093 shares during the period. Greenwich Wealth Management LLC’s holdings in Alphabet were worth $1,895,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Twelve Points Wealth Management LLC lifted its stake 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 worth $1,465,000 after buying an additional 55 shares in the last quarter. PCG Wealth Advisors LLC lifted its stake in shares of Alphabet by 3.1% in the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after buying an additional 57 shares in the last quarter. Investment Advisory Services Inc. TX ADV lifted its stake 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 buying an additional 57 shares in the last quarter. Advisors Management Group Inc. ADV lifted its stake in shares of Alphabet by 2.0% in the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after buying an additional 58 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC lifted its position in Alphabet by 11.1% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after purchasing an additional 60 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 0.4 %

Shares of GOOG stock opened at $158.99 on Tuesday. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The stock has a market cap of $1.96 trillion, a P/E ratio of 24.38, a P/E/G ratio of 1.13 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. The company has a 50 day simple moving average of $168.43 and a two-hundred day simple moving average of $166.48.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the prior year, the company earned $1.44 earnings per share. The firm’s revenue was up 13.6% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The shares were 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 directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold a total of 202,667 shares of company stock valued at $34,341,581 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GOOG shares. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. TD Cowen increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $182.86.

Alphabet Company 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.