OMNI 360 Wealth Inc. Buys 594 Shares of Alphabet Inc. $GOOG

OMNI 360 Wealth Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.3% in the second quarter, HoldingsChannel.com reports. The fund owned 5,416 shares of the information services provider’s stock after acquiring an additional 594 shares during the period. OMNI 360 Wealth Inc.’s holdings in Alphabet were worth $961,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOG. Brighton Jones LLC increased its position in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in shares of Alphabet by 4.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider’s stock valued at $96,465,000 after acquiring an additional 20,855 shares during the last quarter. Sentinus LLC increased its position in shares of Alphabet by 23.5% during the fourth quarter. Sentinus LLC now owns 8,799 shares of the information services provider’s stock valued at $1,676,000 after acquiring an additional 1,677 shares during the last quarter. Select Equity Group L.P. increased its position in shares of Alphabet by 25.1% during the fourth quarter. Select Equity Group L.P. now owns 584,478 shares of the information services provider’s stock valued at $111,308,000 after acquiring an additional 117,189 shares during the last quarter. Finally, Scissortail Wealth Management LLC increased its position in shares of Alphabet by 53,418.2% during the fourth quarter. Scissortail Wealth Management LLC now owns 5,887 shares of the information services provider’s stock valued at $1,121,000 after acquiring an additional 5,876 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Oppenheimer reissued an “outperform” rating and issued a $270.00 target price (up from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Cowen reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $227.56.

Insider Buying and Selling

In related news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the sale, the chief executive officer directly owned 2,462,392 shares of the company’s stock, valued at $492,281,408.64. This represents a 1.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $49,208,380 in the last ninety days. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $241.38 on Friday. The stock has a market cap of $2.92 trillion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $242.57. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a fifty day moving average of $202.67 and a 200-day moving average of $178.86.

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

Alphabet Announces Dividend

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

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.