Future Financial Wealth Managment LLC Has $2.05 Million Position in Alphabet Inc. $GOOG

Future Financial Wealth Managment LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,546 shares of the information services provider’s stock after purchasing an additional 124 shares during the period. Alphabet comprises approximately 1.4% of Future Financial Wealth Managment LLC’s holdings, making the stock its 18th largest holding. Future Financial Wealth Managment LLC’s holdings in Alphabet were worth $2,048,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. ACT Advisors LLC. boosted its holdings in shares of Alphabet by 3.5% in the 2nd 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 during the last quarter. LongView Wealth Management increased its holdings in Alphabet by 1.1% during the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after buying an additional 56 shares during the last quarter. Kooman & Associates raised its position in Alphabet by 1.4% during the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after acquiring an additional 56 shares in the last quarter. Colton Groome Financial Advisors LLC lifted its stake in Alphabet by 3.4% in the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock valued at $309,000 after acquiring an additional 57 shares during the last quarter. Finally, Brueske Advisory Services LLC grew its position in shares of Alphabet by 2.7% in the 2nd quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider’s stock valued at $389,000 after acquiring an additional 58 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the sale, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The stock was 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 of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock worth $59,135,475 in the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $251.51 on Tuesday. The stock has a 50 day simple moving average of $223.05 and a 200 day simple moving average of $187.91. The stock has a market cap of $3.04 trillion, a P/E ratio of 26.78, a PEG ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70. 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 announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.89 EPS. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $210.00 target price (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Jefferies Financial Group raised their price objective on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Robert W. Baird lifted their target price on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Morgan Stanley increased their price target on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Finally, UBS Group raised their price target on Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Five analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $235.33.

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.