Alphabet Inc. (NASDAQ:GOOG) Stock Position Increased by Perissos Private Wealth Management LLC

Perissos Private Wealth Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,225 shares of the information services provider’s stock after buying an additional 81 shares during the period. Alphabet accounts for 1.2% of Perissos Private Wealth Management LLC’s investment portfolio, making the stock its 28th largest position. Perissos Private Wealth Management LLC’s holdings in Alphabet were worth $1,325,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Twelve Points Wealth Management LLC grew its position in shares of Alphabet by 0.7% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after purchasing an additional 55 shares during the period. PCG Wealth Advisors LLC boosted its holdings in shares of Alphabet by 3.1% in the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after buying an additional 57 shares during the period. Investment Advisory Services Inc. TX ADV increased its position in shares of Alphabet by 1.6% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after acquiring an additional 57 shares in the last quarter. Advisors Management Group Inc. ADV raised its holdings in shares of Alphabet by 2.0% during the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after acquiring an additional 58 shares during the period. Finally, Mark Sheptoff Financial Planning LLC lifted its holdings in shares of Alphabet by 11.1% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after purchasing an additional 60 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 0.4 %

Shares of GOOG stock opened at $158.99 on Tuesday. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The stock has a market cap of $1.96 trillion, a price-to-earnings ratio of 24.38, a PEG ratio of 1.13 and a beta of 1.04. The firm’s 50-day moving average is $168.43 and its 200-day moving average is $166.48. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the prior year, the company earned $1.44 earnings per share. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOOG. TD Cowen lifted their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Rosenblatt Securities lowered shares of 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. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Oppenheimer upped their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction 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 directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 29,324 shares in the company, valued at $4,838,460. The disclosure for this sale can be found here. Insiders have sold 202,667 shares of company stock valued at $34,341,581 over the last ninety days. 12.99% of the stock is currently owned by company insiders.

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.