PBMares Wealth Management LLC Buys 84 Shares of Alphabet Inc. $GOOG

PBMares Wealth Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.5% during the second quarter, Holdings Channel.com reports. The firm owned 5,779 shares of the information services provider’s stock after acquiring an additional 84 shares during the period. PBMares Wealth Management LLC’s holdings in Alphabet were worth $1,025,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Robbins Farley lifted its position in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares in the last quarter. Principia Wealth Advisory LLC lifted its position in Alphabet by 111.8% in 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 in the last quarter. MorganRosel Wealth Management LLC bought a new position in Alphabet in the 1st quarter valued at about $26,000. Greykasell Wealth Strategies Inc. bought a new position in Alphabet in the 1st quarter valued at about $32,000. Finally, Goodman Advisory Group LLC bought a new position in Alphabet in the 1st quarter valued at about $32,000. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the transaction, the director directly owned 17,284 shares in the company, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet 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 transaction, the director owned 5,716 shares of the company’s stock, 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. Insiders have sold a total of 276,738 shares of company stock worth $59,135,475 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GOOG. Mizuho raised shares of Alphabet to a “strong-buy” rating in a research report on Monday. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Citizens Jmp raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $235.33.

Alphabet Trading Up 0.4%

Shares of GOOG stock opened at $246.43 on Friday. The company has a 50 day moving average of $220.84 and a 200-day moving average of $186.43. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The firm has a market cap of $2.98 trillion, a P/E ratio of 26.24, a PEG ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly 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 company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the business posted $1.89 EPS. Alphabet’s quarterly revenue was up 13.8% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date 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%.

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.