Spectrum Wealth Advisory Group LLC Buys 224 Shares of Alphabet Inc. $GOOG

Spectrum Wealth Advisory Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.2% during the second quarter, HoldingsChannel.com reports. The fund owned 5,574 shares of the information services provider’s stock after acquiring an additional 224 shares during the quarter. Alphabet accounts for about 0.5% of Spectrum Wealth Advisory Group LLC’s holdings, making the stock its 25th largest position. Spectrum Wealth Advisory Group LLC’s holdings in Alphabet were worth $989,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. RiverFront Investment Group LLC raised its position in Alphabet by 65.1% in the 2nd quarter. RiverFront Investment Group LLC now owns 475,706 shares of the information services provider’s stock valued at $84,386,000 after purchasing an additional 187,520 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its position in Alphabet by 4.1% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 262,356 shares of the information services provider’s stock worth $46,539,000 after purchasing an additional 10,302 shares during the last quarter. Aviso Financial Inc. raised its position in Alphabet by 3.1% in the 2nd quarter. Aviso Financial Inc. now owns 375,342 shares of the information services provider’s stock worth $66,582,000 after purchasing an additional 11,157 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Alphabet by 3.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 417,092 shares of the information services provider’s stock worth $73,988,000 after buying an additional 15,829 shares in the last quarter. Finally, Insigneo Advisory Services LLC boosted its position in Alphabet by 11.0% in the 2nd quarter. Insigneo Advisory Services LLC now owns 58,562 shares of the information services provider’s stock valued at $10,388,000 after buying an additional 5,786 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 6.3%

GOOG opened at $318.47 on Tuesday. The stock has a market capitalization of $3.84 trillion, a P/E ratio of 31.41, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $319.80. The firm’s fifty day simple moving average is $264.32 and its 200 day simple moving average is $215.82.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter in the prior year, the company earned $2.12 EPS. The company’s revenue was up 15.9% on a year-over-year basis. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 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 of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GOOG shares. HSBC reiterated a “buy” rating and set a $335.00 price target on shares of Alphabet in a research report on Thursday, October 30th. BNP Paribas began coverage on Alphabet in a research report on Monday. They issued an “outperform” rating on the stock. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Mizuho set a $325.00 target price on Alphabet in a report on Thursday, October 30th. Finally, Piper Sandler lifted their price objective on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $324.81.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the transaction, the director owned 18,004 shares in the company, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total transaction of $9,640,800.00. Following the transaction, the chief executive officer owned 2,304,619 shares of the company’s stock, valued at approximately $683,642,180.16. This represents a 1.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 227,952 shares of company stock worth $58,896,009 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

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.