Anderson Financial Strategies LLC Invests $516,000 in Alphabet Inc. $GOOG

Anderson Financial Strategies LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG) in the first quarter, Holdings Channel.com reports. The firm acquired 3,300 shares of the information services provider’s stock, valued at approximately $516,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Principia Wealth Advisory LLC lifted its stake in shares of 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 during the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the 1st quarter valued at about $26,000. Goodman Advisory Group LLC bought a new stake in shares of Alphabet in the 1st quarter valued at about $32,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at about $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at about $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.2%

Shares of NASDAQ:GOOG opened at $239.56 on Thursday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $242.08. The firm has a market capitalization of $2.90 trillion, a P/E ratio of 25.51, a P/E/G ratio of 1.61 and a beta of 1.01. The stock has a 50 day moving average price of $200.24 and a 200-day moving average price of $177.98. 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 (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for 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 firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.89 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s dividend payout ratio is presently 8.95%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 15,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $44,656,704. This represents a 5.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the sale, the director owned 6,316 shares in the company, valued at approximately $1,287,137.64. This represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,710 shares of company stock worth $49,208,380. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Scotiabank boosted their target price on Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 22nd. Raymond James Financial reaffirmed an “outperform” rating and set a $210.00 price target (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday. Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $227.56.

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.