Alphabet Inc. $GOOG Position Increased by Spectrum Wealth Advisory Group LLC

Spectrum Wealth Advisory Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,574 shares of the information services provider’s stock after buying an additional 224 shares during the period. Alphabet makes up about 0.5% of Spectrum Wealth Advisory Group LLC’s investment portfolio, making the stock its 25th largest holding. Spectrum Wealth Advisory Group LLC’s holdings in Alphabet were worth $989,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. REDW Wealth LLC increased its stake in Alphabet by 2.3% in the 2nd quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock worth $428,000 after purchasing an additional 54 shares in the last quarter. GDS Wealth Management boosted its position in shares of Alphabet by 2.4% in the second quarter. GDS Wealth Management now owns 2,325 shares of the information services provider’s stock worth $412,000 after buying an additional 54 shares during the period. ACT Advisors LLC. grew its holdings in shares of Alphabet by 3.5% during 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 in the last quarter. Moser Wealth Advisors LLC raised its position in Alphabet by 2.2% during the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock valued at $451,000 after buying an additional 55 shares during the period. Finally, LongView Wealth Management raised its position in Alphabet by 1.1% during 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. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 6.3%

GOOG stock opened at $318.47 on Tuesday. The firm has a market cap of $3.84 trillion, a PE ratio of 31.41, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $319.80. The company has a fifty day simple moving average of $264.32 and a 200 day simple moving average of $215.82. 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 posted its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $2.12 earnings per share. Sell-side analysts anticipate 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 will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is 8.28%.

Analyst Ratings Changes

Several equities analysts have weighed in on GOOG shares. Loop Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. Piper Sandler raised their price target on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. UBS Group reiterated a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. DA Davidson set a $825.00 target price on shares of Alphabet in a research report on Monday, October 27th. Finally, Pivotal Research boosted their price target on shares of Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and a consensus price target of $324.81.

Insider Buying and Selling

In other news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the transaction, the director owned 18,004 shares of the company’s stock, valued at $5,253,567.20. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $288.26, for a total transaction of $800,786.28. Following the sale, the chief accounting officer directly owned 11,739 shares of the company’s stock, valued at approximately $3,383,884.14. This represents a 19.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 227,952 shares of company stock worth $58,896,009 over the last ninety days. Company insiders own 12.99% of the company’s stock.

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.