Resolute Wealth Strategies LLC Raises Stake in Alphabet Inc. $GOOG

Resolute Wealth Strategies LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,140 shares of the information services provider’s stock after purchasing an additional 715 shares during the period. Alphabet comprises 2.2% of Resolute Wealth Strategies LLC’s portfolio, making the stock its 13th largest holding. Resolute Wealth Strategies LLC’s holdings in Alphabet were worth $4,105,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Laurel Wealth Advisors LLC raised its holdings in Alphabet by 17,547.9% during the second quarter. Laurel Wealth Advisors LLC now owns 4,122,727 shares of the information services provider’s stock valued at $731,331,000 after acquiring an additional 4,099,366 shares during the period. Spectrum Wealth Advisory Group LLC boosted its stake in shares of Alphabet by 4.2% in the second quarter. Spectrum Wealth Advisory Group LLC now owns 5,574 shares of the information services provider’s stock worth $989,000 after acquiring an additional 224 shares during the period. RiverFront Investment Group LLC grew its position in shares of Alphabet by 65.1% during the second quarter. RiverFront Investment Group LLC now owns 475,706 shares of the information services provider’s stock worth $84,386,000 after purchasing an additional 187,520 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in Alphabet by 4.1% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 262,356 shares of the information services provider’s stock valued at $46,539,000 after purchasing an additional 10,302 shares during the period. Finally, Aviso Financial Inc. lifted its holdings in Alphabet by 3.1% in the 2nd quarter. Aviso Financial Inc. now owns 375,342 shares of the information services provider’s stock worth $66,582,000 after purchasing an additional 11,157 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the transaction, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 227,952 shares of company stock worth $58,896,009. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $318.47 on Tuesday. The firm has a fifty day simple moving average of $264.32 and a two-hundred day simple moving average of $215.82. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $319.80. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $3.84 trillion, a P/E ratio of 31.41, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.12 EPS. On average, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Analyst Ratings Changes

GOOG has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Citigroup reissued a “market outperform” rating on shares of Alphabet in a report on Monday. Canaccord Genuity Group reiterated a “buy” rating and issued a $330.00 price target on shares of Alphabet in a report on Thursday, October 30th. TD Cowen lifted their price target on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Sanford C. Bernstein increased their price objective on shares of Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average price target of $324.81.

Alphabet 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.