Alphabet Inc. $GOOG Stock Position Boosted by Hemington Wealth Management

Hemington Wealth Management boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 8,554 shares of the information services provider’s stock after acquiring an additional 116 shares during the quarter. Hemington Wealth Management’s holdings in Alphabet were worth $1,517,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet during the 1st quarter valued at about $26,000. IFS Advisors LLC boosted its position in shares of Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley boosted its position in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares in the last quarter. WestEnd Advisors LLC boosted its position in shares of Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new position in shares of Alphabet during the 1st quarter valued at about $32,000. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Scotiabank upped their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 22nd. UBS Group set a $255.00 price objective on shares of Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Finally, Pivotal Research upped their price objective on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $241.00.

Alphabet Price Performance

NASDAQ GOOG opened at $246.19 on Wednesday. The company has a 50 day simple moving average of $228.96 and a 200-day simple moving average of $191.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly 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 business had revenue of $96.43 billion during 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 firm’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.89 earnings per share. Equities research analysts predict 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 was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given 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 of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio is 8.95%.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 103 shares of the stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 953 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer directly owned 17,294 shares of the company’s stock, valued at $4,171,312.80. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 243,838 shares of company stock valued at $53,070,333 over the last ninety days. Insiders own 12.99% of the company’s stock.

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.