Alphabet Inc. $GOOG Shares Bought by Chronos Wealth Management LLC

Chronos Wealth Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 67,375 shares of the information services provider’s stock after acquiring an additional 147 shares during the period. Alphabet comprises about 6.2% of Chronos Wealth Management LLC’s holdings, making the stock its 5th biggest holding. Chronos Wealth Management LLC’s holdings in Alphabet were worth $11,952,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in GOOG. Brighton Jones LLC raised its position in Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares during the period. Copia Wealth Management acquired a new stake in shares of Alphabet in the fourth quarter valued at about $68,000. Wealthedge Investment Advisors LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $260,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at about $206,000. Finally, Milestone Asset Management Group LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $812,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Alphabet stock opened at $246.57 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The stock has a market cap of $2.98 trillion, a P/E ratio of 26.26, a PEG ratio of 1.67 and a beta of 1.01. The company has a 50-day moving average price of $215.38 and a 200 day moving average price of $183.72. 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 (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same period last year, the business earned $1.89 earnings per share. Alphabet’s revenue was up 13.8% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently commented on GOOG. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Oppenheimer reiterated an “outperform” rating and issued a $270.00 target price (up from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Cowen reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, UBS Group increased their target price on shares of Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have given a Hold rating and three have assigned 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 target price of $230.35.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated 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 directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 258,088 shares of company stock worth $52,405,304. 12.99% of the stock is owned by corporate insiders.

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.