Insight Wealth Strategies LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOG)

Insight Wealth Strategies LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,038 shares of the information services provider’s stock after buying an additional 84 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Alphabet were worth $924,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Thompson Investment Management Inc. boosted its holdings in Alphabet by 6.7% during the 2nd quarter. Thompson Investment Management Inc. now owns 2,380 shares of the information services provider’s stock valued at $437,000 after acquiring an additional 150 shares during the period. Trust Co. of Toledo NA OH boosted its holdings in Alphabet by 8.4% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 41,530 shares of the information services provider’s stock valued at $7,617,000 after acquiring an additional 3,212 shares during the period. Quent Capital LLC boosted its holdings in Alphabet by 0.3% during the 2nd quarter. Quent Capital LLC now owns 32,794 shares of the information services provider’s stock valued at $6,015,000 after acquiring an additional 88 shares during the period. City State Bank lifted its holdings in Alphabet by 2.2% in the 2nd quarter. City State Bank now owns 13,787 shares of the information services provider’s stock worth $2,529,000 after buying an additional 300 shares during the period. Finally, Bank & Trust Co purchased a new stake in Alphabet in the 2nd quarter worth approximately $319,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,308 shares of company stock worth $21,933,775. 12.99% of the stock is owned by insiders.

Alphabet Stock Down 0.1 %

Shares of NASDAQ:GOOG traded down $0.10 during trading on Tuesday, hitting $160.54. The stock had a trading volume of 35,491,170 shares, compared to its average volume of 20,696,830. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The company has a market capitalization of $1.98 trillion, a PE ratio of 24.73, a PEG ratio of 1.28 and a beta of 1.05. The firm’s fifty day moving average is $179.64 and its 200 day moving average is $163.12. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

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

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is 3.07%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOOG. Oppenheimer increased their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. Stifel Nicolaus increased their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. TD Cowen increased their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $182.86.

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.