Highline Wealth Partners LLC Acquires 163 Shares of Alphabet Inc. $GOOG

Highline Wealth Partners LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,038 shares of the information services provider’s stock after purchasing an additional 163 shares during the quarter. Highline Wealth Partners LLC’s holdings in Alphabet were worth $3,377,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Principia Wealth Advisory LLC lifted its position in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 85 shares during the period. MorganRosel Wealth Management LLC bought a new stake in Alphabet during the first quarter worth about $26,000. Goodman Advisory Group LLC bought a new stake in shares of Alphabet during the 1st quarter worth approximately $32,000. Greykasell Wealth Strategies Inc. acquired a new position in Alphabet during the first quarter valued at approximately $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new position in Alphabet during the first quarter worth about $34,000. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GOOG shares. The Goldman Sachs Group restated a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. UBS Group lifted their price target on Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Cowen restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Robert W. Baird boosted their price target on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $230.35.

Alphabet Trading Up 0.2%

Shares of Alphabet stock opened at $247.18 on Monday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The company has a market cap of $2.99 trillion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.67 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $216.61 and its 200-day moving average price is $184.53.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the prior year, the company posted $1.89 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 15,000 shares of the firm’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director owned 240,400 shares of the company’s stock, valued at $44,656,704. This trade represents a 5.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares in the company, valued at $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 257,866 shares of company stock worth $52,363,610. 12.99% of the stock is owned by insiders.

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.