Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,038 shares of the information services provider’s stock after acquiring an additional 84 shares during the period. Insight Wealth Strategies LLC’s holdings in Alphabet were worth $924,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. BetterWealth LLC grew its holdings in Alphabet by 7.6% in the fourth quarter. BetterWealth LLC now owns 20,758 shares of the information services provider’s stock valued at $2,925,000 after purchasing an additional 1,460 shares during the period. Trust Point Inc. purchased a new stake in Alphabet in the fourth quarter valued at approximately $3,808,000. WealthShield Partners LLC grew its holdings in Alphabet by 1.3% in the fourth quarter. WealthShield Partners LLC now owns 7,767 shares of the information services provider’s stock valued at $1,095,000 after purchasing an additional 97 shares during the period. Ballentine Partners LLC grew its holdings in Alphabet by 6.0% in the fourth quarter. Ballentine Partners LLC now owns 96,803 shares of the information services provider’s stock valued at $13,642,000 after purchasing an additional 5,504 shares during the period. Finally, Smallwood Wealth Investment Management LLC grew its holdings in Alphabet by 2.6% in the fourth quarter. Smallwood Wealth Investment Management LLC now owns 7,340 shares of the information services provider’s stock valued at $1,034,000 after purchasing an additional 185 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of recent analyst reports. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Rosenblatt Securities downgraded shares of 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. Oppenheimer boosted their price objective 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 boosted their price objective 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. Finally, Stifel Nicolaus boosted their price objective 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. One research analyst has rated the stock with a hold rating, seven have given 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 “Buy” and an average target price of $182.86.

Alphabet Stock Performance

Shares of NASDAQ:GOOG traded down $0.10 on Tuesday, reaching $160.54. 35,491,170 shares of the company’s stock were exchanged, compared to its average volume of 20,696,830. The firm has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 24.73, a PEG 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 business’s 50-day moving average is $179.64 and its two-hundred day moving average is $163.12. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued 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. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.44 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Dividend Announcement

The company 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 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 0.50%. Alphabet’s dividend payout ratio is currently 3.07%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $168.08, for a total transaction of $252,120.00. Following the transaction, the director now directly owns 4,391 shares in the company, valued at approximately $738,039.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 122,308 shares of company stock worth $21,933,775. Insiders own 12.99% of the company’s stock.

About Alphabet

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.