1,582 Shares in Alphabet Inc. $GOOG Acquired by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the second quarter, Holdings Channel.com reports. The fund bought 1,582 shares of the information services provider’s stock, valued at approximately $281,000.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its holdings in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Deutsche Bank AG grew its holdings in Alphabet by 5.4% in the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock valued at $3,334,852,000 after buying an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Alphabet by 2.2% in the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock valued at $3,183,979,000 after buying an additional 440,526 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ:GOOG opened at $247.13 on Wednesday. The stock has a fifty day moving average price of $224.07 and a 200-day moving average price of $188.32. The company has a market cap of $2.99 trillion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70.

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 firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.89 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio is currently 8.95%.

Analyst Ratings Changes

A number of research analysts have commented on GOOG shares. UBS Group upped their price objective on Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Cowen reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Morgan Stanley upped their price objective on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Saturday, September 27th. Finally, Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Five research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $235.33.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 953 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer directly owned 17,294 shares in the company, valued at $4,171,312.80. This represents a 5.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock worth $59,135,475 over the last quarter. 12.99% of the stock is currently owned by company 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.