Allegiance Financial Group Advisory Services LLC Buys 64 Shares of Alphabet Inc. $GOOG

Allegiance Financial Group Advisory Services LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,826 shares of the information services provider’s stock after acquiring an additional 64 shares during the quarter. Allegiance Financial Group Advisory Services LLC’s holdings in Alphabet were worth $324,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFS Advisors LLC boosted its position in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley boosted its position in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares during the last quarter. WestEnd Advisors LLC lifted its position in Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in Alphabet during the first quarter valued at $26,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in Alphabet during the first quarter valued at $32,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 1.9%

GOOG stock opened at $237.49 on Friday. The company has a market capitalization of $2.87 trillion, a PE ratio of 25.29, a P/E/G ratio of 1.60 and a beta of 1.00. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The firm’s 50-day moving average is $226.97 and its 200 day moving average is $189.81. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Analysts Set New Price Targets

Several research firms have commented on GOOG. Jefferies Financial Group increased their price objective on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. TD Cowen raised their target price on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Cowen restated a “buy” rating on shares of Alphabet in a report on Wednesday. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $241.00.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares of the company’s stock, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock valued at $59,135,475 in the last 90 days. Company insiders own 12.99% of the company’s stock.

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.