Worth Financial Advisory Group LLC Has $1.96 Million Position in Alphabet Inc. $GOOG

Worth Financial Advisory Group LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,027 shares of the information services provider’s stock after acquiring an additional 281 shares during the quarter. Alphabet accounts for approximately 1.2% of Worth Financial Advisory Group LLC’s portfolio, making the stock its 19th largest position. Worth Financial Advisory Group LLC’s holdings in Alphabet were worth $1,956,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. ACT Advisors LLC. lifted its holdings in Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after buying an additional 55 shares during the period. LongView Wealth Management lifted its holdings in Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after buying an additional 56 shares during the period. Kooman & Associates lifted its holdings in Alphabet by 1.4% in the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after buying an additional 56 shares during the period. Colton Groome Financial Advisors LLC raised its holdings in Alphabet by 3.4% in the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock worth $309,000 after purchasing an additional 57 shares during the period. Finally, NCM Capital Management LLC raised its holdings in Alphabet by 2.2% in the first quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider’s stock worth $438,000 after purchasing an additional 60 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. 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 report on Wednesday, September 3rd. Oppenheimer reiterated an “outperform” rating and issued a $270.00 target price (up from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Barclays reiterated a “buy” rating on shares of Alphabet in a 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 stock a “neutral” rating in a report on Wednesday, July 16th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $230.35.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 257,866 shares of company stock worth $52,363,610 in the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Down 1.1%

Shares of GOOG stock opened at $244.36 on Tuesday. The firm has a fifty day moving average of $217.67 and a 200-day moving average of $185.06. 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 Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The company has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 1.67 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued 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 company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. The firm’s revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given 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%.

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.