Alpha Omega Wealth Management LLC Grows Stake in Alphabet Inc. $GOOGL

Alpha Omega Wealth Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the second quarter, HoldingsChannel reports. The fund owned 20,526 shares of the information services provider’s stock after buying an additional 224 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Alphabet were worth $3,617,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Guardian Wealth Management Inc. grew its stake in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $28,000. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC boosted its position in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.5%

Shares of NASDAQ:GOOGL opened at $245.79 on Friday. The stock has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 26.18, a PEG ratio of 1.67 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock’s 50-day simple moving average is $214.70 and its two-hundred day simple moving average is $182.46. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock worth $52,405,304 over the last ninety days. 11.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOGL. Wedbush increased their price objective on Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a research report on Wednesday, September 3rd. Loop Capital reaffirmed a “hold” rating and set a $190.00 price objective (up from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. JMP Securities increased their price objective on Alphabet from $250.00 to $290.00 and gave the company a “market outperform” rating in a research report on Friday, September 19th. KeyCorp increased their price objective on Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Finally, Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $232.90.

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.