Voisard Asset Management Group Inc. Raises Stake in Alphabet Inc. (NASDAQ:GOOG)

Voisard Asset Management Group Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 22.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,087 shares of the information services provider’s stock after acquiring an additional 760 shares during the quarter. Alphabet accounts for approximately 0.4% of Voisard Asset Management Group Inc.’s investment portfolio, making the stock its 23rd largest holding. Voisard Asset Management Group Inc.’s holdings in Alphabet were worth $750,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Partnership Wealth Management LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at about $26,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at about $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at about $32,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Alphabet during the 4th quarter valued at about $34,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Alphabet during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GOOG shares. Stifel Nicolaus increased their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Oppenheimer increased their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. Finally, TD Cowen increased their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $182.86.

Alphabet Trading Up 1.2 %

GOOG traded up $1.99 on Tuesday, hitting $165.94. 6,553,670 shares of the company were exchanged, compared to its average volume of 20,465,938. The stock has a market capitalization of $2.05 trillion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The firm has a fifty day simple moving average of $178.39 and a two-hundred day simple moving average of $163.59. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period last year, the company earned $1.44 EPS. Sell-side analysts expect that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at approximately $5,209,888.76. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at approximately $5,209,888.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the transaction, the chief executive officer now owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,108 shares of company stock worth $25,464,954. 12.99% of the stock is currently owned by 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.