Phoenix Wealth Advisors Purchases 1,000 Shares of Alphabet Inc. (NASDAQ:GOOG)

Phoenix Wealth Advisors increased its position in Alphabet Inc. (NASDAQ:GOOG) by 58.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,720 shares of the information services provider’s stock after purchasing an additional 1,000 shares during the quarter. Phoenix Wealth Advisors’ holdings in Alphabet were worth $499,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Valued Wealth Advisors LLC grew its stake in Alphabet by 36.0% in the 2nd quarter. Valued Wealth Advisors LLC now owns 1,024 shares of the information services provider’s stock valued at $188,000 after buying an additional 271 shares during the last quarter. Virginia Wealth Management Group Inc. acquired a new position in Alphabet in the 2nd quarter valued at about $208,000. Petredis Investment Advisors LLC grew its stake in Alphabet by 18.6% in the 2nd quarter. Petredis Investment Advisors LLC now owns 23,861 shares of the information services provider’s stock valued at $4,377,000 after buying an additional 3,749 shares during the last quarter. Cypress Financial Planning LLC acquired a new position in Alphabet in the 2nd quarter valued at about $291,000. Finally, Baader Bank Aktiengesellschaft grew its stake in Alphabet by 140.4% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 6,731 shares of the information services provider’s stock valued at $1,230,000 after buying an additional 3,931 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on GOOG shares. Oppenheimer upped their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. TD Cowen increased their target price 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, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $182.86.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’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 completion of the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now directly 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. Insiders sold a total of 121,608 shares of company stock valued at $21,567,504 in the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock traded up $1.14 on Thursday, reaching $163.17. 18,204,162 shares of the stock were exchanged, compared to its average volume of 20,504,453. The firm’s 50 day moving average is $177.90 and its 200-day moving average is $163.66. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a market cap of $2.02 trillion, a PE ratio of 25.03, a P/E/G ratio of 1.28 and a beta of 1.05.

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

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

About Alphabet

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.