Investors Research Corp Buys 75 Shares of Alphabet Inc. $GOOG

Investors Research Corp lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,938 shares of the information services provider’s stock after acquiring an additional 75 shares during the period. Investors Research Corp’s holdings in Alphabet were worth $521,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Principia Wealth Advisory LLC increased its position in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after acquiring an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet during the first quarter worth $26,000. Goodman Advisory Group LLC bought a new stake in shares of Alphabet during the first quarter worth $32,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet during the first quarter worth $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in shares of Alphabet during the first quarter worth $34,000. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total transaction of $122,274.00. Following the completion of the sale, the director owned 6,316 shares in the company, valued at approximately $1,287,137.64. This trade represents a 8.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,710 shares of company stock worth $49,208,380. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOG opened at $241.38 on Monday. The firm has a 50-day moving average of $202.67 and a 200-day moving average of $178.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market cap of $2.92 trillion, a PE ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $242.57.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.89 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Citizens Jmp raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $227.56.

Alphabet 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.