Petredis Investment Advisors LLC Has $4.38 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Petredis Investment Advisors LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 18.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,861 shares of the information services provider’s stock after purchasing an additional 3,749 shares during the period. Petredis Investment Advisors LLC’s holdings in Alphabet were worth $4,377,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. Twelve Points Wealth Management LLC raised its position in Alphabet by 0.7% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after buying an additional 55 shares during the last quarter. PCG Wealth Advisors LLC grew its stake in Alphabet by 3.1% in the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after purchasing an additional 57 shares during the period. Mark Sheptoff Financial Planning LLC grew its stake in Alphabet by 11.1% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after purchasing an additional 60 shares during the period. Shira Ridge Wealth Management grew its stake in Alphabet by 0.4% in the 2nd quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock valued at $2,841,000 after purchasing an additional 60 shares during the period. Finally, Strait & Sound Wealth Management LLC grew its stake in Alphabet by 2.2% in the 1st quarter. Strait & Sound Wealth Management LLC now owns 2,898 shares of the information services provider’s stock valued at $466,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer increased their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, TD Cowen increased their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. 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 data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and a consensus target price of $182.86.

Alphabet Price Performance

NASDAQ GOOG traded up $1.14 during trading hours on Thursday, hitting $163.17. The company had a trading volume of 18,204,162 shares, compared to its average volume of 20,504,453. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The firm has a 50 day simple moving average of $177.90 and a 200 day simple moving average of $163.66. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.03, a PEG ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. 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 company earned $1.44 EPS. The firm’s revenue was up 13.6% compared to the same quarter last year. Equities research analysts expect that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $163.03, for a total value of $130,424.00. Following the completion of the sale, the director now directly owns 30,024 shares in the company, valued at approximately $4,894,812.72. The disclosure for this sale can be found here. Insiders sold a total of 121,608 shares of company stock worth $21,567,504 in the last quarter. 12.99% of the stock is owned by company insiders.

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.