Valmark Advisers Inc. Increases Position in Alphabet Inc. $GOOG

Valmark Advisers Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,225 shares of the information services provider’s stock after buying an additional 495 shares during the period. Valmark Advisers Inc.’s holdings in Alphabet were worth $5,894,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. RDA Financial Network boosted its holdings in shares of Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after buying an additional 554 shares in the last quarter. Tower View Wealth Management LLC boosted its holdings in shares of Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after buying an additional 1,776 shares in the last quarter. Oldfather Financial Services LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at $213,000. Truist Financial Corp boosted its holdings in shares of Alphabet by 0.4% in the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock valued at $643,381,000 after buying an additional 15,065 shares in the last quarter. Finally, GC Wealth Management RIA LLC boosted its holdings in shares of Alphabet by 115.7% in the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock valued at $38,031,000 after buying an additional 115,003 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 1.9%

GOOG stock opened at $237.49 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $256.70. The stock has a market capitalization of $2.87 trillion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a fifty day moving average of $226.97 and a 200-day moving average of $189.66.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping 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 company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter last year, the business earned $1.89 EPS. The business’s revenue was up 13.8% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent research reports. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. UBS Group set a $255.00 price target on shares of Alphabet and gave the stock a “neutral” rating in a research note on Thursday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $241.00.

Insider Buying and Selling

In other news, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated 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 transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the transaction, the director owned 5,716 shares of the company’s stock, valued at $1,425,799.04. This represents a 9.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 276,738 shares of company stock worth $59,135,475. 12.99% of the stock is currently owned by insiders.

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.