Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Petredis Investment Advisors LLC

Petredis Investment Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 18.6% in the second quarter, HoldingsChannel.com reports. The firm owned 23,861 shares of the information services provider’s stock after acquiring an additional 3,749 shares during the quarter. Petredis Investment Advisors LLC’s holdings in Alphabet were worth $4,377,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cypress Financial Planning LLC acquired a new position in Alphabet in the second quarter valued at $291,000. Baader Bank Aktiengesellschaft boosted its stake in Alphabet by 140.4% in the second quarter. Baader Bank Aktiengesellschaft now owns 6,731 shares of the information services provider’s stock valued at $1,230,000 after acquiring an additional 3,931 shares in the last quarter. Seed Wealth Management Inc. boosted its stake in Alphabet by 4.6% in the second quarter. Seed Wealth Management Inc. now owns 5,920 shares of the information services provider’s stock valued at $1,086,000 after acquiring an additional 260 shares in the last quarter. AdvisorNet Financial Inc grew its holdings in shares of Alphabet by 0.7% during the second quarter. AdvisorNet Financial Inc now owns 18,723 shares of the information services provider’s stock worth $3,434,000 after buying an additional 130 shares during the last quarter. Finally, Moseley Investment Management Inc. increased its position in Alphabet by 1.0% in the 2nd quarter. Moseley Investment Management Inc. now owns 5,977 shares of the information services provider’s stock valued at $1,096,000 after acquiring an additional 62 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the sale, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders sold 121,608 shares of company stock valued at $21,567,504 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock traded up $1.14 during trading hours on Thursday, reaching $163.17. 18,204,162 shares of the company’s stock were exchanged, compared to its average volume of 20,504,453. The company has a market cap of $2.02 trillion, a P/E ratio of 25.03, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The company’s 50 day moving average is $177.90 and its two-hundred day moving average is $163.66. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period last year, the business posted $1.44 EPS. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. Equities research analysts anticipate that Alphabet Inc. will post 7.62 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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Analysts Set New Price Targets

GOOG has been the subject of a number of recent research reports. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Oppenheimer increased their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. TD Cowen increased their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. One investment 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target 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.