Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Smallwood Wealth Investment Management LLC

Smallwood Wealth Investment Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,500 shares of the information services provider’s stock after purchasing an additional 160 shares during the period. Alphabet comprises approximately 1.1% of Smallwood Wealth Investment Management LLC’s investment portfolio, making the stock its 19th biggest holding. Smallwood Wealth Investment Management LLC’s holdings in Alphabet were worth $1,376,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in Alphabet in the 4th quarter worth about $8,232,000. GUNN & Co INVESTMENT MANAGEMENT INC. grew its stake in Alphabet by 964.3% during the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 482,698 shares of the information services provider’s stock valued at $68,027,000 after acquiring an additional 437,345 shares in the last quarter. McCarthy Asset Management Inc. grew its stake in Alphabet by 62.5% during the 4th quarter. McCarthy Asset Management Inc. now owns 6,343 shares of the information services provider’s stock valued at $894,000 after acquiring an additional 2,440 shares in the last quarter. Unique Wealth Strategies LLC acquired a new stake in Alphabet in the 4th quarter valued at about $1,199,000. Finally, Opinicus Capital Inc. purchased a new position in Alphabet in the 4th quarter worth approximately $1,126,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The disclosure for this sale can be found here. Insiders have sold a total of 179,065 shares of company stock valued at $31,025,543 over the last quarter. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

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

Alphabet Stock Down 0.9 %

NASDAQ GOOG traded down $1.55 during trading on Tuesday, reaching $166.38. 13,694,881 shares of the company’s stock were exchanged, compared to its average volume of 20,219,568. The company has a 50 day moving average price of $176.13 and a two-hundred day moving average price of $164.91. The stock has a market cap of $2.06 trillion, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

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

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.