Signature Estate & Investment Advisors LLC Acquires 2,656 Shares of Alphabet Inc. $GOOG

Signature Estate & Investment Advisors LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 10.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,251 shares of the information services provider’s stock after purchasing an additional 2,656 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Alphabet were worth $4,414,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. ARQ Wealth Advisors LLC boosted its stake in shares of Alphabet by 39.3% in the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock valued at $945,000 after purchasing an additional 1,400 shares during the last quarter. Independence Bank of Kentucky boosted its holdings in Alphabet by 10.2% during the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock worth $2,329,000 after buying an additional 1,376 shares during the last quarter. Fermata Advisors LLC boosted its holdings in Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock worth $1,527,000 after buying an additional 259 shares during the last quarter. jvl associates llc boosted its holdings in Alphabet by 3.5% during the first quarter. jvl associates llc now owns 10,055 shares of the information services provider’s stock worth $1,571,000 after buying an additional 343 shares during the last quarter. Finally, Members Trust Co boosted its holdings in Alphabet by 84.7% during the first quarter. Members Trust Co now owns 4,999 shares of the information services provider’s stock worth $781,000 after buying an additional 2,292 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Oppenheimer restated an “outperform” rating and set a $270.00 target price (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. The Goldman Sachs Group reissued a “buy” rating and issued a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. KeyCorp set a $265.00 price target on shares of Alphabet in a report on Wednesday, September 3rd. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Roth Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Five analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $227.56.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock valued at $49,208,380 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $235.17 on Monday. The firm has a market cap of $2.84 trillion, a PE ratio of 25.04, a PEG ratio of 1.58 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $236.13. The company has a fifty day moving average price of $196.65 and a 200 day moving average price of $176.75.

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

Alphabet Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s dividend payout ratio is presently 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.