Ables Iannone Moore & Associates Inc. Has $2.65 Million Stock Holdings in Alphabet Inc. $GOOG

Ables Iannone Moore & Associates Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 14,912 shares of the information services provider’s stock after selling 107 shares during the period. Alphabet makes up approximately 1.6% of Ables Iannone Moore & Associates Inc.’s holdings, making the stock its 14th largest holding. Ables Iannone Moore & Associates Inc.’s holdings in Alphabet were worth $2,645,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. ARQ Wealth Advisors LLC lifted its holdings in Alphabet by 39.3% during the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock valued at $945,000 after purchasing an additional 1,400 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in Alphabet by 10.2% during the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock valued at $2,329,000 after purchasing an additional 1,376 shares during the last quarter. Fermata Advisors LLC lifted its holdings in Alphabet by 2.7% during the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock valued at $1,527,000 after purchasing an additional 259 shares during the last quarter. jvl associates llc lifted its holdings in Alphabet by 3.5% during the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider’s stock valued at $1,571,000 after purchasing an additional 343 shares during the last quarter. Finally, Members Trust Co lifted its holdings in Alphabet by 84.7% during the 1st quarter. Members Trust Co now owns 4,999 shares of the information services provider’s stock valued at $781,000 after purchasing an additional 2,292 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Pivotal Research increased their price objective on Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. The Goldman Sachs Group reiterated a “buy” rating and set a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Oppenheimer reiterated an “outperform” rating and set a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $227.56.

Alphabet Stock Up 0.2%

Shares of NASDAQ GOOG opened at $241.38 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $242.57. The stock has a market capitalization of $2.92 trillion, a P/E ratio of 25.71, a PEG ratio of 1.62 and a beta of 1.01. The stock’s fifty day moving average is $202.67 and its 200 day moving average is $178.86.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter last year, the business earned $1.89 earnings per share. Alphabet’s revenue was up 13.8% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,000 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director owned 6,916 shares in the company, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock worth $49,208,380 over the last three months. Company insiders own 12.99% of the company’s stock.

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.