Enzi Wealth Makes New $252,000 Investment in Alphabet Inc. (NASDAQ:GOOG)

Enzi Wealth bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,315 shares of the information services provider’s stock, valued at approximately $252,000.

Several other institutional investors also recently bought and sold shares of the stock. Partnership Wealth Management LLC bought a new stake in Alphabet in the 4th quarter worth approximately $26,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet in the 4th quarter worth approximately $32,000. Richardson Financial Services Inc. bought a new stake in Alphabet in the 4th quarter worth approximately $34,000. Pacific Capital Wealth Advisors Inc. bought a new stake in Alphabet in the 4th quarter worth approximately $34,000. Finally, Hoese & Co LLP increased its stake in Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after acquiring an additional 100 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.8 %

Shares of GOOG traded down $1.41 during trading hours on Wednesday, hitting $167.55. The company had a trading volume of 6,293,626 shares, compared to its average volume of 20,298,344. The company’s fifty day moving average price is $177.02 and its two-hundred day moving average price is $164.32. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The company has a market capitalization of $2.07 trillion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. 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 (EPS) for the quarter, beating 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 company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same period in the prior year, the company posted $1.44 EPS. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, equities analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GOOG shares. Oppenheimer lifted their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday, June 28th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, TD Cowen lifted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $182.86.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were 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 directly owns 2,182,385 shares in the company, valued at $354,310,204.75. The disclosure for this sale can be found here. Insiders have sold 156,565 shares of company stock valued at $27,253,193 in the last ninety days. Corporate 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.