Great Valley Advisor Group Inc. Has $33.37 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Great Valley Advisor Group Inc. raised its position in Alphabet Inc. (NASDAQ:GOOG) by 3.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 181,921 shares of the information services provider’s stock after purchasing an additional 6,593 shares during the period. Alphabet makes up 0.9% of Great Valley Advisor Group Inc.’s investment portfolio, making the stock its 19th biggest holding. Great Valley Advisor Group Inc.’s holdings in Alphabet were worth $33,368,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOG. Twelve Points Wealth Management LLC grew its holdings in shares of Alphabet by 0.7% during the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after purchasing an additional 55 shares during the last quarter. PCG Wealth Advisors LLC grew its holdings in Alphabet by 3.1% during the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after acquiring an additional 57 shares during the last quarter. Mark Sheptoff Financial Planning LLC increased its position in Alphabet by 11.1% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after acquiring an additional 60 shares during the period. Shira Ridge Wealth Management raised its stake in shares of Alphabet by 0.4% during the second quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock valued at $2,841,000 after acquiring an additional 60 shares during the last quarter. Finally, Strait & Sound Wealth Management LLC lifted its holdings in shares of Alphabet by 2.2% during the first quarter. Strait & Sound Wealth Management LLC now owns 2,898 shares of the information services provider’s stock worth $466,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’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 owns 2,182,385 shares in the company, valued at $354,310,204.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred 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 $354,310,204.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold 121,608 shares of company stock valued at $21,567,504 over the last ninety days. 12.99% of the stock is owned by company insiders.

Alphabet Trading Down 3.0 %

Shares of NASDAQ:GOOG traded down $5.03 during mid-day trading on Wednesday, hitting $160.90. The company had a trading volume of 13,168,017 shares, compared to its average volume of 20,458,668. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The firm has a fifty day moving average price of $178.20 and a 200 day moving average price of $163.67. The company has a market capitalization of $1.99 trillion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05.

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

Alphabet Announces Dividend

The company 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 $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOG. Stifel Nicolaus raised their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer lifted their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. TD Cowen boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research note on Friday, June 28th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average 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.