HBW Advisory Services LLC Has $3.04 Million Stock Holdings in Alphabet Inc. $GOOG

HBW Advisory Services LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 17,115 shares of the information services provider’s stock after selling 216 shares during the quarter. HBW Advisory Services LLC’s holdings in Alphabet were worth $3,036,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Legacy Wealth Management LLC MS raised its holdings in Alphabet by 2.2% in the second quarter. Legacy Wealth Management LLC MS now owns 8,812 shares of the information services provider’s stock worth $1,563,000 after purchasing an additional 189 shares during the period. Park National Corp OH raised its holdings in shares of Alphabet by 2.6% during the second quarter. Park National Corp OH now owns 9,448 shares of the information services provider’s stock worth $1,676,000 after acquiring an additional 240 shares during the period. Kera Capital Partners Inc. raised its holdings in shares of Alphabet by 8.2% during the second quarter. Kera Capital Partners Inc. now owns 32,209 shares of the information services provider’s stock worth $5,713,000 after acquiring an additional 2,454 shares during the period. Private Client Services LLC raised its holdings in shares of Alphabet by 42.7% during the second quarter. Private Client Services LLC now owns 10,263 shares of the information services provider’s stock worth $1,820,000 after acquiring an additional 3,069 shares during the period. Finally, Rowlandmiller & PARTNERS.ADV raised its holdings in shares of Alphabet by 3.6% during the second quarter. Rowlandmiller & PARTNERS.ADV now owns 88,405 shares of the information services provider’s stock worth $15,682,000 after acquiring an additional 3,055 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Barclays restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Lake Street Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Oppenheimer restated an “outperform” rating and set a $270.00 price objective (up from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $210.00 target price (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $227.56.

Alphabet Stock Up 0.2%

Alphabet stock opened at $241.38 on Friday. The company has a market cap of $2.92 trillion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $242.57. The company has a fifty day simple moving average of $202.67 and a 200 day simple moving average of $178.83. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.89 earnings per share. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. The trade was a 12.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director directly owned 243,400 shares of the company’s stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,710 shares of company stock worth $49,208,380 in 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.