Level Financial Advisors Takes Position in Alphabet Inc. (NASDAQ:GOOG)

Level Financial Advisors acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) in the third quarter, HoldingsChannel.com reports. The firm acquired 1,360 shares of the information services provider’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Richardson Financial Services Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $34,000. Abich Financial Wealth Management LLC grew its position in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in Alphabet during the second quarter valued at about $37,000. HWG Holdings LP purchased a new stake in Alphabet during the second quarter valued at about $40,000. Finally, Slocum Gordon & Co LLP purchased a new stake in Alphabet during the second quarter valued at about $44,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GOOG shares. Pivotal Research started coverage on Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target for the company. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Rosenblatt Securities downgraded 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. UBS Group reduced their price objective on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research note on Monday, October 7th. Finally, DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. 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 company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,092 shares of company stock worth $35,644,136 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.8 %

NASDAQ:GOOG opened at $164.52 on Friday. 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 Inc. has a one year low of $121.46 and a one year high of $193.31. The business’s 50-day simple moving average is $162.81 and its 200 day simple moving average is $169.13. The stock has a market cap of $2.03 trillion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the previous year, the firm posted $1.44 earnings per share. The company’s revenue was up 13.6% compared to the same quarter last year. As a group, sell-side analysts predict that Alphabet Inc. will post 7.64 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 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 11.48%.

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.