Global Assets Advisory LLC Buys 1,385 Shares of Alphabet Inc. $GOOG

Global Assets Advisory LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 29.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,160 shares of the information services provider’s stock after purchasing an additional 1,385 shares during the quarter. Global Assets Advisory LLC’s holdings in Alphabet were worth $1,090,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RDA Financial Network boosted its position in Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after purchasing an additional 554 shares during the period. Tower View Wealth Management LLC boosted its position in Alphabet by 6.9% during the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after purchasing an additional 1,776 shares during the period. Oldfather Financial Services LLC bought a new position in Alphabet during the second quarter worth about $213,000. Truist Financial Corp boosted its position in Alphabet by 0.4% during the second quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock worth $643,381,000 after purchasing an additional 15,065 shares during the period. Finally, GC Wealth Management RIA LLC boosted its position in Alphabet by 115.7% during the second quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock worth $38,031,000 after purchasing an additional 115,003 shares during the period. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GOOG shares. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Robert W. Baird increased 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. Citizens Jmp raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $210.00 price target (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Five research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $235.33.

Insiders Place Their Bets

In other Alphabet 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 transaction of $25,042.39. Following the transaction, the director directly owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock valued at $59,135,475 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 1.7%

Shares of GOOG opened at $247.13 on Wednesday. The firm’s 50 day simple moving average is $224.07 and its 200 day simple moving average is $188.32. The company has a market capitalization of $2.99 trillion, a P/E ratio of 26.32, a P/E/G ratio of 1.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70.

Alphabet (NASDAQ:GOOG) last announced 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 for 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%. Alphabet’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the firm posted $1.89 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Alphabet 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.