Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Horizon Wealth Management LLC

Horizon Wealth Management LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 15.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,909 shares of the information services provider’s stock after purchasing an additional 1,601 shares during the period. Alphabet comprises about 0.5% of Horizon Wealth Management LLC’s portfolio, making the stock its 21st largest holding. Horizon Wealth Management LLC’s holdings in Alphabet were worth $2,184,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Eagle Bluffs Wealth Management LLC purchased a new position in Alphabet in the second quarter worth approximately $202,000. Colonial River Wealth Management LLC raised its holdings in Alphabet by 5.3% in the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after buying an additional 107 shares during the period. First Citizens Bank & Trust Co. raised its holdings in Alphabet by 1.6% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 151,624 shares of the information services provider’s stock valued at $27,811,000 after buying an additional 2,374 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in Alphabet by 3.6% in the second quarter. China Universal Asset Management Co. Ltd. now owns 20,980 shares of the information services provider’s stock valued at $3,848,000 after buying an additional 731 shares during the last quarter. Finally, Kavar Capital Partners Group LLC boosted its stake in Alphabet by 4.2% during the second quarter. Kavar Capital Partners Group LLC now owns 6,196 shares of the information services provider’s stock worth $1,136,000 after buying an additional 250 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOOG has been the topic of several research analyst reports. Oppenheimer boosted their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research report on Friday, June 28th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, TD Cowen lifted their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $182.86.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John L. Hennessy sold 700 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the sale, the director now directly owns 29,324 shares of the company’s stock, valued at $4,838,460. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The disclosure for this sale can be found here. Insiders have sold 156,565 shares of company stock valued at $27,253,193 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Down 0.5 %

Shares of NASDAQ GOOG traded down $0.77 during midday trading on Wednesday, hitting $168.19. 2,758,721 shares of the company’s stock were exchanged, compared to its average volume of 20,277,189. The firm’s fifty day simple moving average is $177.02 and its 200-day simple moving average is $164.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market cap of $2.08 trillion, a PE ratio of 25.91, a P/E/G ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The company 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 quarter last year, the company posted $1.44 earnings per share. Research analysts predict that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend 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 (DPR) is presently 12.27%.

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.