Wealth Quarterback LLC Takes Position in Alphabet Inc. $GOOG

Wealth Quarterback LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,197 shares of the information services provider’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. SBI Securities Co. Ltd. increased its holdings in Alphabet by 0.5% in the second quarter. SBI Securities Co. Ltd. now owns 172,755 shares of the information services provider’s stock worth $30,645,000 after purchasing an additional 944 shares in the last quarter. Pioneer Trust Bank N A OR raised its holdings in shares of Alphabet by 0.8% during the second quarter. Pioneer Trust Bank N A OR now owns 94,197 shares of the information services provider’s stock valued at $16,710,000 after acquiring an additional 720 shares in the last quarter. Fairbanks Capital Management Inc. grew its stake in shares of Alphabet by 1,054.6% in the 2nd quarter. Fairbanks Capital Management Inc. now owns 26,324 shares of the information services provider’s stock worth $4,670,000 after buying an additional 24,044 shares during the last quarter. Advyzon Investment Management LLC lifted its position in Alphabet by 19.3% during the second quarter. Advyzon Investment Management LLC now owns 12,168 shares of the information services provider’s stock valued at $2,159,000 after purchasing an additional 1,972 shares in the last quarter. Finally, IMA Advisory Services Inc. grew its holdings in shares of Alphabet by 1.8% in the second quarter. IMA Advisory Services Inc. now owns 28,134 shares of the information services provider’s stock valued at $4,991,000 after purchasing an additional 485 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 2.3%

Shares of NASDAQ:GOOG traded down $6.72 during midday trading on Thursday, reaching $280.71. The company had a trading volume of 3,035,460 shares, compared to its average volume of 23,255,611. The stock has a market cap of $3.39 trillion, a PE ratio of 27.60, a P/E/G ratio of 1.86 and a beta of 1.05. The business’s 50 day moving average price is $256.07 and its 200 day moving average price is $208.20. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $292.36. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS 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 analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the company earned $2.12 EPS. Research analysts forecast 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 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. KeyCorp reaffirmed an “overweight” rating and set a $330.00 price target on shares of Alphabet in a report on Thursday, October 30th. Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Cantor Fitzgerald set a $310.00 price target on Alphabet and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, DA Davidson set a $825.00 price target on shares of Alphabet in a report on Monday, October 27th. Six analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have issued a Hold rating and three have assigned 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 price target of $324.81.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the sale, the director directly 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 221,796 shares of company stock valued at $53,983,001. 12.99% of the stock is currently owned by insiders.

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.