Miller Wealth Advisors LLC Has $21.68 Million Stock Holdings in Alphabet Inc. $GOOG

Miller Wealth Advisors LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,187 shares of the information services provider’s stock after selling 1,921 shares during the period. Alphabet accounts for 10.1% of Miller Wealth Advisors LLC’s portfolio, making the stock its 5th largest position. Miller Wealth Advisors LLC’s holdings in Alphabet were worth $21,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Principia Wealth Advisory LLC grew its holdings in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in Alphabet in the first quarter worth about $26,000. Robbins Farley grew its holdings in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares during the period. Goodman Advisory Group LLC purchased a new stake in Alphabet in the first quarter worth about $32,000. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet in the first quarter worth about $32,000. 27.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent research reports. Lake Street Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. KeyCorp set a $265.00 price objective on shares of Alphabet in a report on Wednesday, September 3rd. Scotiabank upped their price objective on shares of Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Five research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.33.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the 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 completion of the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was 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 worth $59,135,475. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.0%

Shares of GOOG stock opened at $246.45 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average is $221.89 and its 200 day moving average is $187.01. The stock has a market capitalization of $2.98 trillion, a P/E ratio of 26.25, a P/E/G ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $93.67 billion. During the same period last year, the firm earned $1.89 earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current 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 given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

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.