Modera Wealth Management LLC Increases Holdings in Alphabet Inc. $GOOG

Modera Wealth Management LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 367,465 shares of the information services provider’s stock after buying an additional 719 shares during the quarter. Modera Wealth Management LLC’s holdings in Alphabet were worth $65,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. REDW Wealth LLC boosted its position in Alphabet by 2.3% in the second quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock worth $428,000 after purchasing an additional 54 shares during the last quarter. ACT Advisors LLC. increased its position in shares of Alphabet by 3.5% during the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after purchasing an additional 55 shares during the last quarter. Moser Wealth Advisors LLC lifted its stake in shares of Alphabet by 2.2% in the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after purchasing an additional 55 shares during the period. LongView Wealth Management boosted its holdings in shares of Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after buying an additional 56 shares during the last quarter. Finally, Kooman & Associates boosted its holdings in shares of Alphabet by 1.4% in the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after buying an additional 56 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of the firm’s 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 sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 222,396 shares of company stock worth $54,105,275. 12.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on GOOG shares. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Bank of America boosted their price objective on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Morgan Stanley raised their target price on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Rosenblatt Securities set a $279.00 price target on Alphabet in a report on Thursday, October 30th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Stock Down 2.0%

Shares of GOOG stock opened at $279.70 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $291.93. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $251.81 and its two-hundred day simple moving average is $205.14. The stock has a market cap of $3.38 trillion, a P/E ratio of 27.58, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.12 EPS. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is 8.28%.

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.