Williams Financial LLC Acquires New Holdings in Alphabet Inc. (NASDAQ:GOOG)

Williams Financial LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,510 shares of the information services provider’s stock, valued at approximately $644,000.

Several other hedge funds have also recently added to or reduced their stakes in GOOG. Richardson Financial Services Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at $34,000. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet in the 2nd quarter valued at $37,000. Slocum Gordon & Co LLP bought a new stake in shares of Alphabet in the 2nd quarter valued at $44,000. Hoese & Co LLP increased its stake 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 in the last quarter. Finally, Iron Horse Wealth Management LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at $48,000. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. TD Cowen lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Oppenheimer lifted their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research report on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $182.86.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 700 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now directly owns 29,324 shares of the company’s stock, valued at approximately $4,838,460. The disclosure for this sale can be found here. Insiders have sold a total of 201,867 shares of company stock worth $34,218,581 over the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG opened at $158.37 on Monday. The company has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm’s fifty day moving average price is $169.06 and its two-hundred day moving average price is $166.35.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the previous year, the business posted $1.44 EPS. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

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.