Wealth Management Partners LLC Purchases 529 Shares of Alphabet Inc. $GOOG

Wealth Management Partners LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 2.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,553 shares of the information services provider’s stock after acquiring an additional 529 shares during the period. Alphabet accounts for about 1.2% of Wealth Management Partners LLC’s holdings, making the stock its 16th biggest position. Wealth Management Partners LLC’s holdings in Alphabet were worth $3,472,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principia Wealth Advisory LLC lifted its holdings in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet in the first quarter valued at approximately $26,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet in the first quarter valued at approximately $32,000. Goodman Advisory Group LLC bought a new position in shares of Alphabet in the first quarter valued at approximately $32,000. Finally, Elevate Wealth Advisory Inc. bought a new position in shares of Alphabet in the first quarter valued at approximately $34,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,088 shares of company stock worth $52,405,304 in the last 90 days. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOG opened at $255.24 on Monday. The firm has a market capitalization of $3.09 trillion, a price-to-earnings ratio of 27.18, a P/E/G ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70. The stock has a fifty day moving average of $210.08 and a 200 day moving average of $181.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the company earned $1.89 earnings per share. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent research reports. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Raymond James Financial restated an “outperform” rating and issued a $210.00 target price (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. KeyCorp set a $265.00 price target on Alphabet in a research report on Wednesday, September 3rd. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $227.56.

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.