Colonial River Wealth Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 5.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,126 shares of the information services provider’s stock after acquiring an additional 107 shares during the period. Colonial River Wealth Management LLC’s holdings in Alphabet were worth $390,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of GOOG. Partnership Wealth Management LLC acquired a new position in shares of Alphabet in the fourth quarter valued at about $26,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet in the 4th quarter worth approximately $32,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Alphabet during the 4th quarter worth approximately $34,000. Richardson Financial Services Inc. acquired a new stake in Alphabet during the 4th quarter valued at approximately $34,000. Finally, Hoese & Co LLP boosted its holdings in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.
Alphabet Price Performance
Shares of GOOG stock traded down $1.56 during trading hours on Wednesday, hitting $167.40. 1,173,380 shares of the company’s stock were exchanged, compared to its average volume of 20,267,342. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The firm has a market cap of $2.07 trillion, a P/E ratio of 25.91, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $177.02 and a two-hundred day moving average of $164.32.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 7.62 EPS for the current year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is currently 12.27%.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Oppenheimer upped their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and an average price target of $182.86.
Get Our Latest Analysis on GOOG
Insider Transactions at Alphabet
In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the sale, the chief accounting officer now owns 29,966 shares in the company, valued at approximately $5,209,888.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total value of $3,973,050.00. Following the transaction, the chief executive officer now owns 2,235,511 shares in the company, valued at $394,746,532.38. The disclosure for this sale can be found here. Insiders have sold 156,565 shares of company stock valued at $27,253,193 over the last ninety days. Insiders own 12.99% of the company’s stock.
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.
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