Alphabet Inc. $GOOG Shares Bought by Crown Wealth Group LLC

Crown Wealth Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 10.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,192 shares of the information services provider’s stock after acquiring an additional 597 shares during the period. Crown Wealth Group LLC’s holdings in Alphabet were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Legend Financial Advisors Inc. acquired a new position in Alphabet in the second quarter valued at $50,000. CX Institutional boosted its stake in shares of Alphabet by 0.8% during the second quarter. CX Institutional now owns 36,475 shares of the information services provider’s stock worth $6,470,000 after buying an additional 274 shares during the period. Meyer Handelman Co. boosted its stake in shares of Alphabet by 3.3% during the second quarter. Meyer Handelman Co. now owns 307,678 shares of the information services provider’s stock worth $54,579,000 after buying an additional 9,875 shares during the period. Traveka Wealth LLC boosted its stake in shares of Alphabet by 0.6% during the second quarter. Traveka Wealth LLC now owns 11,229 shares of the information services provider’s stock worth $1,992,000 after buying an additional 69 shares during the period. Finally, Kingsman Wealth Management Inc. boosted its stake in shares of Alphabet by 2.4% during the second quarter. Kingsman Wealth Management Inc. now owns 5,343 shares of the information services provider’s stock worth $948,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

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 value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 258,088 shares of company stock valued at $52,405,304. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.2%

NASDAQ GOOG opened at $247.18 on Friday. The stock has a market capitalization of $2.99 trillion, a P/E ratio of 26.32, a P/E/G ratio of 1.67 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 firm has a 50-day moving average price of $216.61 and a 200 day moving average price of $184.39. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results 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 in the prior year, the company posted $1.89 earnings per share. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

GOOG has been the subject of several recent research reports. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. The Goldman Sachs Group reiterated a “buy” rating and set a $220.00 target price on shares of Alphabet in a research note on Monday, June 2nd. Pivotal Research increased their target price on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Finally, Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $230.35.

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.