Elser Financial Planning Inc Purchases Shares of 4,693 Alphabet Inc. $GOOG

Elser Financial Planning Inc purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,693 shares of the information services provider’s stock, valued at approximately $859,000.

A number of other hedge funds also recently bought and sold shares of GOOG. Principia Wealth Advisory LLC raised its position in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after acquiring an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet during the 1st quarter worth about $26,000. Goodman Advisory Group LLC acquired a new stake in shares of Alphabet during the 1st quarter worth about $32,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth about $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth about $34,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 0.8%

NASDAQ:GOOG opened at $245.54 on Thursday. The firm has a market cap of $2.97 trillion, a P/E ratio of 26.15, a PEG ratio of 1.64 and a beta of 1.00. 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’s 50 day simple moving average is $219.78 and its 200-day simple moving average is $185.88. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70.

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

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 243,285 shares of company stock valued at $50,994,787. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on GOOG. Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. UBS Group raised their price target on Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Lake Street Capital restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, KeyCorp set a $265.00 price target on Alphabet in a research note on Wednesday, September 3rd. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $230.35.

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.