Journey Strategic Wealth LLC Has $7.60 Million Position in Alphabet Inc. $GOOG

Journey Strategic Wealth LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 47.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 42,858 shares of the information services provider’s stock after acquiring an additional 13,885 shares during the period. Journey Strategic Wealth LLC’s holdings in Alphabet were worth $7,603,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Archer Investment Corp boosted its stake in shares of Alphabet by 28.3% in the 2nd quarter. Archer Investment Corp now owns 2,789 shares of the information services provider’s stock valued at $495,000 after purchasing an additional 615 shares during the last quarter. Watchman Group Inc. lifted its stake in Alphabet by 2.7% in the second quarter. Watchman Group Inc. now owns 26,203 shares of the information services provider’s stock valued at $4,648,000 after buying an additional 686 shares during the period. Mediolanum International Funds Ltd increased its stake in shares of Alphabet by 10.4% in the 2nd quarter. Mediolanum International Funds Ltd now owns 768,908 shares of the information services provider’s stock valued at $137,073,000 after acquiring an additional 72,550 shares in the last quarter. University of Illinois Foundation acquired a new position in shares of Alphabet during the 2nd quarter valued at $31,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Alphabet in the 2nd quarter valued at about $3,227,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 1.0%

GOOG opened at $289.98 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $261.82 and its 200 day simple moving average is $212.97. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $306.89. The stock has a market cap of $3.50 trillion, a PE ratio of 28.60, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.12 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $340.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Loop Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Phillip Securities raised Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, November 7th. DA Davidson set a $825.00 target price on shares of Alphabet in a research report on Monday, October 27th. Finally, Pivotal Research increased their price target on Alphabet from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $324.81.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total value of $168,036.00. Following the sale, the director owned 4,516 shares in the company, valued at $1,264,750.96. This represents a 11.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares of the company’s stock, valued at $5,253,567.20. This trade represents a 0.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 195,452 shares of company stock worth $49,255,209 in the last ninety days. 12.99% of the stock is owned by company insiders.

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.