Relyea Zuckerberg Hanson LLC Has $5.12 Million Stock Position in Alphabet Inc. $GOOG

Relyea Zuckerberg Hanson LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 28,868 shares of the information services provider’s stock after acquiring an additional 227 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Alphabet were worth $5,121,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Red Tortoise LLC grew its holdings in shares of Alphabet by 3.0% during the 2nd quarter. Red Tortoise LLC now owns 2,924 shares of the information services provider’s stock worth $519,000 after purchasing an additional 84 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in Alphabet by 2.9% in the 2nd quarter. Belpointe Asset Management LLC now owns 47,962 shares of the information services provider’s stock valued at $8,508,000 after buying an additional 1,335 shares in the last quarter. MAS Advisors LLC acquired a new stake in Alphabet in the 2nd quarter valued at $216,000. Investors Asset Management of Georgia Inc. GA ADV boosted its stake in Alphabet by 14.6% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 2,202 shares of the information services provider’s stock valued at $391,000 after buying an additional 280 shares in the last quarter. Finally, Confluence Wealth Services Inc. boosted its stake in Alphabet by 0.9% in the 2nd quarter. Confluence Wealth Services Inc. now owns 30,820 shares of the information services provider’s stock valued at $5,467,000 after buying an additional 260 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOG. Pivotal Research boosted their price target on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday. Jefferies Financial Group boosted their price target on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, Barclays reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $237.68.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 953 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the sale, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 over the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 0.7%

Shares of GOOG opened at $245.46 on Thursday. The stock has a fifty day moving average price of $225.03 and a two-hundred day moving average price of $188.71. 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 Inc. has a 52-week low of $142.66 and a 52-week high of $256.70. The company has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.14, a PEG ratio of 1.67 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during 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 business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 EPS. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

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.