HBW Advisory Services LLC Has $3.04 Million Stake in Alphabet Inc. $GOOG

HBW Advisory Services LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 17,115 shares of the information services provider’s stock after selling 216 shares during the period. HBW Advisory Services LLC’s holdings in Alphabet were worth $3,036,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in GOOG. Principia Wealth Advisory LLC raised its position in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in Alphabet in the first quarter worth about $26,000. Goodman Advisory Group LLC bought a new stake in Alphabet during the first quarter worth about $32,000. Greykasell Wealth Strategies Inc. bought a new stake in Alphabet during the first quarter worth about $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in Alphabet during the first quarter worth about $34,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG opened at $241.38 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $242.57. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company’s 50 day simple moving average is $202.67 and its 200-day simple moving average is $178.83. The stock has a market capitalization of $2.92 trillion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. Alphabet’s revenue was up 13.8% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio is currently 8.95%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Citizens Jmp raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. KeyCorp set a $265.00 price objective on shares of Alphabet in a research note on Wednesday, September 3rd. UBS Group upped their price objective on shares of Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Finally, Pivotal Research upped their price objective on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $227.56.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director directly owned 6,916 shares in the company, valued at $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 254,710 shares of company stock valued at $49,208,380. 12.99% of the stock is currently owned by corporate insiders.

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.