Alphabet Inc. $GOOG Shares Bought by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. raised its position in Alphabet Inc. (NASDAQ:GOOG) by 33.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,268 shares of the information services provider’s stock after purchasing an additional 1,076 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Alphabet were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOG. Vanguard Group Inc. increased its holdings in Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. Kingstone Capital Partners Texas LLC boosted its position in shares of Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Alphabet by 5.4% in the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock valued at $3,334,852,000 after acquiring an additional 1,098,996 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Alphabet by 2.2% during the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after acquiring an additional 440,526 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the transaction, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 222,396 shares of company stock valued at $54,105,275 over the last quarter. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOG stock opened at $279.70 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.38 trillion, a P/E ratio of 27.58, a PEG ratio of 1.86 and a beta of 1.05. The business has a 50 day simple moving average of $251.81 and a 200-day simple moving average of $205.83. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $291.93.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same period in the previous year, the company posted $2.12 EPS. The company’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 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 currently 8.28%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GOOG shares. BMO Capital Markets restated an “outperform” rating and set a $340.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Wolfe Research raised their price objective on shares of Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Mizuho set a $325.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Rosenblatt Securities set a $279.00 target price on shares of Alphabet in a report on Thursday, October 30th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $330.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $324.81.

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.