Insight Wealth Strategies LLC Grows Stock Holdings in Alphabet Inc. $GOOG

Insight Wealth Strategies LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,996 shares of the information services provider’s stock after purchasing an additional 120 shares during the period. Insight Wealth Strategies LLC’s holdings in Alphabet were worth $2,122,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Greenfield Savings Bank lifted its position in shares of Alphabet by 2.1% during the 2nd quarter. Greenfield Savings Bank now owns 26,233 shares of the information services provider’s stock worth $4,653,000 after purchasing an additional 536 shares during the last quarter. Nova Wealth Management Inc. lifted its position in shares of Alphabet by 28.1% during the 2nd quarter. Nova Wealth Management Inc. now owns 510 shares of the information services provider’s stock worth $90,000 after purchasing an additional 112 shares during the last quarter. OMNI 360 Wealth Inc. lifted its position in shares of Alphabet by 12.3% during the 2nd quarter. OMNI 360 Wealth Inc. now owns 5,416 shares of the information services provider’s stock worth $961,000 after purchasing an additional 594 shares during the last quarter. Abner Herrman & Brock LLC lifted its position in Alphabet by 0.9% in the second quarter. Abner Herrman & Brock LLC now owns 126,025 shares of the information services provider’s stock valued at $22,356,000 after acquiring an additional 1,174 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in Alphabet by 15.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,741 shares of the information services provider’s stock valued at $1,196,000 after acquiring an additional 918 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the transaction, the chief executive officer directly owned 2,462,392 shares in the company, valued at $492,281,408.64. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,710 shares of company stock valued at $49,208,380. 12.99% of the stock is owned by insiders.

Alphabet Trading Up 0.2%

NASDAQ GOOG opened at $241.38 on Friday. 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 firm has a market cap of $2.92 trillion, a PE ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $242.57. The firm’s fifty day moving average is $202.67 and its two-hundred day moving average is $178.86.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates 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%. Alphabet’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 earnings per share. Analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Cowen reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Pivotal Research boosted their price target on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. The Goldman Sachs Group reissued a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. Finally, Barclays reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company 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.