Secure Asset Management LLC Buys 7,895 Shares of Alphabet Inc. (NASDAQ:GOOG)

Secure Asset Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 366.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,051 shares of the information services provider’s stock after purchasing an additional 7,895 shares during the period. Secure Asset Management LLC’s holdings in Alphabet were worth $1,844,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in GOOG. Partnership Wealth Management LLC bought a new position in Alphabet during the 4th quarter worth approximately $26,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet in the fourth quarter valued at about $32,000. Pacific Capital Wealth Advisors Inc. bought a new stake in Alphabet in the 4th quarter valued at $34,000. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $34,000. Finally, 1620 Investment Advisors Inc. bought a new position in Alphabet in the 2nd quarter valued at about $37,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.2 %

Shares of GOOG traded up $1.94 during trading hours on Friday, hitting $167.43. The company had a trading volume of 14,260,680 shares, compared to its average volume of 20,309,939. The firm has a market cap of $2.07 trillion, a P/E ratio of 25.68, a P/E/G ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average price is $176.34 and its 200 day moving average price is $164.50.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter last year, the business posted $1.44 EPS. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, research analysts predict that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 12.27%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. TD Cowen upped their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Oppenheimer upped their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Buy” and an average target price of $182.86.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 179,065 shares of company stock valued at $31,025,543. 12.99% of the stock is owned by company insiders.

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.