1,295 Shares in Alphabet Inc. (NASDAQ:GOOG) Bought by GenWealth Group Inc.

GenWealth Group Inc. purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,295 shares of the information services provider’s stock, valued at approximately $238,000.

Several other large investors have also made changes to their positions in GOOG. Park Avenue Securities LLC increased its holdings in Alphabet by 11.9% in the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after acquiring an additional 11,646 shares during the last quarter. Investment Partners LTD. lifted its position in shares of Alphabet by 5.8% in the fourth quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock worth $1,049,000 after buying an additional 410 shares in the last quarter. Desjardins Global Asset Management Inc. boosted its stake in Alphabet by 47.9% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 50,333 shares of the information services provider’s stock valued at $7,094,000 after buying an additional 16,295 shares during the last quarter. Apexium Financial LP grew its holdings in Alphabet by 335.9% during the 4th quarter. Apexium Financial LP now owns 53,823 shares of the information services provider’s stock valued at $7,586,000 after buying an additional 41,476 shares in the last quarter. Finally, Oak Ridge Investments LLC increased its stake in Alphabet by 4.6% in the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after acquiring an additional 8,201 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 1.2 %

Alphabet stock traded up $2.00 during midday trading on Friday, reaching $165.17. The stock had a trading volume of 11,159,147 shares, compared to its average volume of 20,445,896. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a fifty day moving average of $177.60 and a 200 day moving average of $163.66.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share 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 firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the prior year, the business posted $1.44 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, analysts anticipate 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. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’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 of the company’s stock, valued at approximately $4,894,812.72. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Alphabet news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the completion of the sale, the director now directly owns 30,024 shares of the company’s stock, valued at approximately $4,894,812.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on 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. Over the last ninety days, insiders sold 121,608 shares of company stock worth $21,567,504. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.