Aprio Wealth Management LLC Has $1.48 Million Stake in Alphabet Inc. $GOOG

Aprio Wealth Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 9,483 shares of the information services provider’s stock after buying an additional 590 shares during the period. Aprio Wealth Management LLC’s holdings in Alphabet were worth $1,481,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GOOG. Principia Wealth Advisory LLC grew its position in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after buying an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in Alphabet in the 1st quarter valued at $26,000. Goodman Advisory Group LLC acquired a new stake in Alphabet in the 1st quarter valued at $32,000. Greykasell Wealth Strategies Inc. acquired a new stake in Alphabet in the 1st quarter valued at $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in Alphabet in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total value of $6,497,400.00. Following the sale, the chief executive officer directly owned 2,462,392 shares in the company, valued at approximately $492,281,408.64. The trade was a 1.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 222,210 shares of company stock valued at $41,742,155. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Cowen reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.19.

Alphabet Trading Down 0.7%

NASDAQ GOOG opened at $211.99 on Wednesday. The stock has a market capitalization of $2.56 trillion, a price-to-earnings ratio of 22.58, a PEG ratio of 1.44 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $215.34. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business’s fifty day moving average is $193.15 and its 200-day moving average is $175.85.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the previous year, the business posted $1.89 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s payout ratio is currently 8.95%.

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.