Wise Wealth Partners Acquires 2,648 Shares of Alphabet Inc. $GOOG

Wise Wealth Partners grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 180.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,114 shares of the information services provider’s stock after purchasing an additional 2,648 shares during the quarter. Alphabet comprises approximately 1.2% of Wise Wealth Partners’ portfolio, making the stock its 21st biggest holding. Wise Wealth Partners’ holdings in Alphabet were worth $730,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFS Advisors LLC boosted its position in Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares during the period. Robbins Farley boosted its position in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the period. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet in the first quarter valued at approximately $26,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet in the first quarter valued at approximately $32,000. Finally, Goodman Advisory Group LLC bought a new position in shares of Alphabet in the first quarter valued at approximately $32,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GOOG. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. TD Cowen raised their price objective on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday. UBS Group set a $255.00 price objective on shares of Alphabet and gave the company a “neutral” rating in a research report on Thursday. Robert W. Baird raised their price objective on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Finally, Scotiabank raised their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 22nd. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.00.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 276,738 shares of company stock valued at $59,135,475. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 1.3%

Shares of Alphabet stock opened at $242.21 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The firm has a market cap of $2.93 trillion, a PE ratio of 25.79, a PEG ratio of 1.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a 50 day simple moving average of $226.01 and a two-hundred day simple moving average of $189.21.

Alphabet (NASDAQ:GOOG) last announced its earnings results 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same period in the previous year, the business posted $1.89 earnings per share. Alphabet’s revenue for the quarter was up 13.8% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Alphabet Company 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.