Precision Wealth Strategies LLC Acquires Shares of 1,660 Alphabet Inc. $GOOG

Precision Wealth Strategies LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,660 shares of the information services provider’s stock, valued at approximately $294,000.

Several other large investors also recently bought and sold shares of the stock. jvl associates llc raised its holdings in shares of Alphabet by 4.3% in the second quarter. jvl associates llc now owns 10,492 shares of the information services provider’s stock valued at $1,861,000 after buying an additional 437 shares during the last quarter. Madrona Financial Services LLC raised its holdings in shares of Alphabet by 3.3% in the second quarter. Madrona Financial Services LLC now owns 4,926 shares of the information services provider’s stock valued at $874,000 after buying an additional 157 shares during the last quarter. SOA Wealth Advisors LLC. raised its holdings in shares of Alphabet by 7.2% in the second quarter. SOA Wealth Advisors LLC. now owns 4,271 shares of the information services provider’s stock valued at $758,000 after buying an additional 287 shares during the last quarter. Founders Capital Management raised its holdings in shares of Alphabet by 85.0% in the second quarter. Founders Capital Management now owns 22,221 shares of the information services provider’s stock valued at $3,942,000 after buying an additional 10,210 shares during the last quarter. Finally, Dogwood Wealth Management LLC raised its holdings in shares of Alphabet by 11.3% in the second quarter. Dogwood Wealth Management LLC now owns 5,339 shares of the information services provider’s stock valued at $935,000 after buying an additional 544 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GOOG shares. Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Mizuho raised shares of Alphabet to a “strong-buy” rating in a report on Monday, September 29th. KeyCorp set a $265.00 target price on shares of Alphabet in a report on Wednesday, September 3rd. Cowen reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Saturday, September 27th. Five research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $235.33.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares of the company’s stock, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.0%

Shares of Alphabet 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 stock has a market cap of $2.98 trillion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company has a 50-day moving average of $221.89 and a two-hundred day moving average of $187.01.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same period last year, the company posted $1.89 earnings per share. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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