29,957 Shares in Alphabet Inc. (NASDAQ:GOOG) Bought by Diversify Wealth Management LLC

Diversify Wealth Management LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOG) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 29,957 shares of the information services provider’s stock, valued at approximately $5,495,000.

Other institutional investors also recently bought and sold shares of the company. Richardson Financial Services Inc. bought a new stake in Alphabet in the fourth quarter worth $34,000. 1620 Investment Advisors Inc. bought a new stake in Alphabet in the second quarter worth $37,000. Slocum Gordon & Co LLP bought a new stake in Alphabet in the second quarter worth $44,000. Hoese & Co LLP lifted its position in Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares during the last quarter. Finally, Iron Horse Wealth Management LLC bought a new stake in Alphabet in the second quarter worth $48,000. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOOG. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research report on Friday, June 28th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. TD Cowen lifted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Oppenheimer lifted their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Alphabet Stock Performance

GOOG stock opened at $158.37 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business has a 50-day moving average price of $169.06 and a 200 day moving average price of $166.35. The company has a market capitalization of $1.95 trillion, a P/E ratio of 24.29, a PEG ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet’s payout ratio is currently 12.27%.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold 201,867 shares of company stock worth $34,218,581 over the last three months. 12.99% of the stock is owned by corporate insiders.

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.