Tower View Wealth Management LLC Purchases 84 Shares of Alphabet Inc. (NASDAQ:GOOG)

Tower View Wealth Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,205 shares of the information services provider’s stock after purchasing an additional 84 shares during the period. Alphabet comprises about 2.8% of Tower View Wealth Management LLC’s investment portfolio, making the stock its 13th largest position. Tower View Wealth Management LLC’s holdings in Alphabet were worth $4,807,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Partnership Wealth Management LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $26,000. 1620 Investment Advisors Inc. acquired a new position in Alphabet during the second quarter worth $37,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet during the fourth quarter valued at $32,000. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at $34,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Alphabet in the 4th quarter worth about $34,000. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GOOG shares. TD Cowen lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Rosenblatt Securities cut 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. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Oppenheimer increased 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. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $182.86.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s 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 completion of the sale, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The disclosure for this sale can be found here. Insiders sold a total of 179,065 shares of company stock valued at $31,025,543 over the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.4 %

NASDAQ:GOOG traded up $2.26 on Thursday, hitting $166.76. 2,867,398 shares of the stock were exchanged, compared to its average volume of 20,085,797. The stock has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company’s 50-day moving average price is $175.92 and its 200 day moving average price is $165.02.

Alphabet (NASDAQ:GOOG) last posted its quarterly 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 period in the previous year, the firm posted $1.44 earnings per share. Alphabet’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a $0.20 dividend. 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%.

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.