Investors Asset Management of Georgia Inc. GA ADV Acquires New Stake in Alphabet Inc. (NASDAQ:GOOG)

Investors Asset Management of Georgia Inc. GA ADV bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,157 shares of the information services provider’s stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Partnership Wealth Management LLC bought a new stake in shares of Alphabet in the fourth quarter worth $26,000. 1620 Investment Advisors Inc. acquired a new stake in Alphabet in the 2nd quarter valued at $37,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the 4th quarter worth about $32,000. Richardson Financial Services Inc. acquired a new position in shares of Alphabet during the 4th quarter worth about $34,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the completion of the transaction, the chief executive officer now directly owns 2,235,511 shares in the company, valued at approximately $394,746,532.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the transaction, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 179,065 shares of company stock worth $31,025,543. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG traded up $1.71 on Friday, hitting $165.11. 18,492,391 shares of the stock were exchanged, compared to its average volume of 20,161,213. The firm has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The business has a 50-day moving average of $175.40 and a two-hundred day moving average of $165.01.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same quarter last year, the company posted $1.44 EPS. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Analysts Set New Price Targets

GOOG has been the topic of several analyst reports. TD Cowen upped their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Oppenheimer upped their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $182.86.

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.