Innova Wealth Partners Has $317,000 Stake in Alphabet Inc. $GOOG

Innova Wealth Partners raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 14.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,789 shares of the information services provider’s stock after buying an additional 230 shares during the period. Innova Wealth Partners’ holdings in Alphabet were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Revisor Wealth Management LLC grew its stake in shares of Alphabet by 107.9% during the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock valued at $572,000 after purchasing an additional 1,899 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Alphabet by 19.5% during the first quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider’s stock valued at $14,323,000 after purchasing an additional 14,931 shares during the last quarter. Sterling Investment Counsel LLC grew its stake in shares of Alphabet by 399.9% during the first quarter. Sterling Investment Counsel LLC now owns 8,998 shares of the information services provider’s stock valued at $1,406,000 after purchasing an additional 7,198 shares during the last quarter. Finally, HCR Wealth Advisors grew its stake in shares of Alphabet by 2.0% during the first quarter. HCR Wealth Advisors now owns 23,110 shares of the information services provider’s stock valued at $3,611,000 after purchasing an additional 446 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 953 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the sale, the chief accounting officer directly owned 17,294 shares in the company, valued at approximately $4,171,312.80. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares in the company, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,372 shares of company stock valued at $55,110,740. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of GOOG stock opened at $253.79 on Friday. The firm’s 50 day moving average price is $232.18 and its two-hundred day moving average price is $192.73. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market cap of $3.07 trillion, a PE ratio of 27.03, a PEG ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $257.58.

Alphabet (NASDAQ:GOOG) last posted its 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 analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the business posted $1.89 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

GOOG has been the topic of several research analyst reports. Cowen reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, October 8th. KeyCorp set a $265.00 price target on shares of Alphabet in a research note on Wednesday, September 3rd. Barclays reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. UBS Group set a $255.00 price objective on shares of Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 9th. Finally, Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $244.68.

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.