Alphabet Inc. (NASDAQ:GOOG) Stock Position Raised by Lutz Financial Services LLC

Lutz Financial Services LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 11.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,711 shares of the information services provider’s stock after buying an additional 180 shares during the quarter. Lutz Financial Services LLC’s holdings in Alphabet were worth $314,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in GOOG. Capital International Investors lifted its position in shares of Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after buying an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after purchasing an additional 13,876,534 shares during the last quarter. Capital World Investors boosted its position in Alphabet by 2.2% during the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after purchasing an additional 979,083 shares during the period. Capital Research Global Investors grew its holdings in Alphabet by 2.0% during the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after purchasing an additional 684,968 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Alphabet in the fourth quarter valued at approximately $4,101,040,000. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at approximately $5,209,888.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the completion of the transaction, the chief executive officer now directly owns 2,235,511 shares in the company, valued at $394,746,532.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 179,065 shares of company stock worth $31,025,543. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Alphabet Stock Performance

GOOG stock traded down $1.10 during trading on Thursday, reaching $163.40. 17,127,958 shares of the stock were exchanged, compared to its average volume of 20,160,813. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.02 trillion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The stock has a 50 day simple moving average of $175.69 and a 200-day simple moving average of $165.02.

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

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.