Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 104,739 shares of the information services provider’s stock after acquiring an additional 526 shares during the quarter. Alphabet makes up about 4.1% of Chemistry Wealth Management LLC’s portfolio, making the stock its 4th largest holding. Chemistry Wealth Management LLC’s holdings in Alphabet were worth $17,511,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC increased its position in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet in the 2nd quarter valued at $37,000. HWG Holdings LP bought a new stake in shares of Alphabet in the 2nd quarter valued at $40,000. Richardson Financial Services Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at $34,000. Finally, Slocum Gordon & Co LLP bought a new stake in shares of Alphabet in the 2nd quarter valued at $44,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research analyst reports. Oppenheimer cut their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. TD Cowen increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Finally, Pivotal Research started coverage on shares of Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price objective on the stock. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $183.75.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now directly owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 217,592 shares of company stock worth $35,922,911 over the last three months. 12.99% of the stock is owned by insiders.

Alphabet Stock Down 0.7 %

Shares of GOOG stock traded down $1.20 on Monday, hitting $167.36. The stock had a trading volume of 4,121,148 shares, compared to its average volume of 19,866,119. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The business has a 50 day moving average of $163.53 and a 200 day moving average of $168.91. 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 stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping 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 firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same quarter last year, the business earned $1.44 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s payout ratio is presently 12.27%.

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.