Gray Private Wealth LLC Takes $232,000 Position in Alphabet Inc. $GOOG

Gray Private Wealth LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,305 shares of the information services provider’s stock, valued at approximately $232,000.

Other hedge funds also recently made changes to their positions in the company. Robbins Farley increased its stake in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares in the last quarter. Principia Wealth Advisory LLC grew its stake in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet in the first quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Alphabet during the first quarter worth approximately $32,000. Finally, Goodman Advisory Group LLC purchased a new position in Alphabet during the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GOOG shares. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Saturday, September 27th. BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Mizuho raised Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Finally, Lake Street Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Five analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $235.33.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 953 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the transaction, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,738 shares of company stock worth $59,135,475. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

GOOG opened at $246.45 on Monday. The stock’s 50 day simple moving average is $221.89 and its 200-day simple moving average is $187.31. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.98 trillion, a PE ratio of 26.25, a P/E/G ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70.

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

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

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.