Clarity Wealth Advisors LLC Buys 551 Shares of Alphabet Inc. $GOOG

Clarity Wealth Advisors LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,659 shares of the information services provider’s stock after buying an additional 551 shares during the period. Alphabet comprises approximately 1.4% of Clarity Wealth Advisors LLC’s holdings, making the stock its 25th largest position. Clarity Wealth Advisors LLC’s holdings in Alphabet were worth $5,793,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GOOG. RDA Financial Network boosted its stake in shares of Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after acquiring an additional 554 shares during the period. Bleakley Financial Group LLC lifted its holdings in Alphabet by 1.4% in the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after purchasing an additional 2,304 shares in the last quarter. Oldfather Financial Services LLC purchased a new position in Alphabet in the 2nd quarter worth approximately $213,000. Tower View Wealth Management LLC boosted its stake in 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 worth $4,904,000 after purchasing an additional 1,776 shares during the period. Finally, Dock Street Asset Management Inc. grew its holdings in Alphabet by 0.8% during the 2nd quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after buying an additional 1,970 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the sale, the chief executive officer directly owned 2,337,119 shares of the company’s stock, valued at $662,526,494.12. This represents a 1.37% decrease in their position. The transaction 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 firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 221,796 shares of company stock valued at $53,983,001. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Up 0.4%

Shares of GOOG stock opened at $291.74 on Wednesday. The company has a market cap of $3.53 trillion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $292.34. The stock’s 50 day simple moving average is $254.94 and its two-hundred day simple moving average is $207.64. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter in the previous year, the company posted $2.12 EPS. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GOOG shares. Morgan Stanley boosted their target price on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Bank of America increased their price objective on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Barclays lifted their target price on Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, UBS Group reissued a “neutral” rating on shares of Alphabet in a research note 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 given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $324.81.

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.