Wedmont Private Capital Purchases 603 Shares of Alphabet Inc. (NASDAQ:GOOG)

Wedmont Private Capital increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,853 shares of the information services provider’s stock after purchasing an additional 603 shares during the period. Alphabet accounts for 0.9% of Wedmont Private Capital’s portfolio, making the stock its 19th largest holding. Wedmont Private Capital’s holdings in Alphabet were worth $15,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Intergy Private Wealth LLC grew its holdings in shares of Alphabet by 4.3% in the 2nd quarter. Intergy Private Wealth LLC now owns 3,538 shares of the information services provider’s stock valued at $649,000 after buying an additional 145 shares during the period. Voisard Asset Management Group Inc. grew its holdings in shares of Alphabet by 22.8% in the 2nd quarter. Voisard Asset Management Group Inc. now owns 4,087 shares of the information services provider’s stock valued at $750,000 after buying an additional 760 shares during the period. White Lighthouse Investment Management Inc. grew its holdings in shares of Alphabet by 40.8% in the 2nd quarter. White Lighthouse Investment Management Inc. now owns 2,566 shares of the information services provider’s stock valued at $471,000 after buying an additional 744 shares during the period. Cooper Financial Group grew its holdings in shares of Alphabet by 13.9% in the 2nd quarter. Cooper Financial Group now owns 25,939 shares of the information services provider’s stock valued at $4,758,000 after buying an additional 3,164 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake in Alphabet by 2.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 503,023 shares of the information services provider’s stock worth $92,264,000 after purchasing an additional 10,784 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the sale, the director now directly owns 30,024 shares of the company’s stock, valued at $4,894,812.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 144,108 shares of company stock worth $25,464,954. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Alphabet stock traded up $2.00 during mid-day trading on Tuesday, reaching $165.95. The company had a trading volume of 7,605,886 shares, compared to its average volume of 20,472,727. The business has a fifty day simple moving average of $178.39 and a 200 day simple moving average of $163.59. The company has a market cap of $2.05 trillion, a P/E ratio of 25.34, a P/E/G ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter last year, the firm earned $1.44 earnings per share. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. On average, equities research analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer upped their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. TD Cowen upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. Finally, Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $182.86.

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.