Stark Wealth Management LLC Invests $527,000 in Alphabet Inc. $GOOG

Stark Wealth Management LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, Holdings Channel reports. The fund purchased 2,969 shares of the information services provider’s stock, valued at approximately $527,000.

Other institutional investors also recently bought and sold shares of the company. RDA Financial Network grew its holdings in shares of Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after purchasing an additional 554 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Alphabet by 1.4% in the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after buying an additional 2,304 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Alphabet by 3.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,164,341 shares of the information services provider’s stock worth $206,542,000 after acquiring an additional 42,028 shares in the last quarter. Oldfather Financial Services LLC purchased a new position in shares of Alphabet during the second quarter worth approximately $213,000. Finally, Tower View Wealth Management LLC raised its stake in shares of Alphabet by 6.9% during the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after acquiring an additional 1,776 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research analyst reports. Canaccord Genuity Group reissued a “buy” rating and issued a $330.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Morgan Stanley increased their target price on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Finally, KeyCorp reissued an “overweight” rating and set a $330.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $313.04.

Alphabet Price Performance

GOOG opened at $310.52 on Monday. The firm has a market capitalization of $3.75 trillion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 1.80 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The business’s 50-day moving average is $283.75 and its two-hundred day moving average is $230.73. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $328.67.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same period last year, the business earned $2.12 EPS. The company’s revenue was up 15.9% compared to the same quarter last year. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders 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 is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 225,528 shares of company stock valued at $61,296,884. Corporate insiders own 12.99% of the company’s stock.

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.