Perfromance Wealth Partners LLC Acquires 7,985 Shares of Alphabet Inc. (NASDAQ:GOOG)

Perfromance Wealth Partners LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 848,509 shares of the information services provider’s stock after purchasing an additional 7,985 shares during the quarter. Alphabet makes up 5.7% of Perfromance Wealth Partners LLC’s investment portfolio, making the stock its 6th largest position. Perfromance Wealth Partners LLC’s holdings in Alphabet were worth $155,634,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOG. Park Avenue Securities LLC raised its stake in Alphabet by 11.9% during the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after acquiring an additional 11,646 shares in the last quarter. Investment Partners LTD. raised its stake in Alphabet by 5.8% during the 4th quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock worth $1,049,000 after acquiring an additional 410 shares in the last quarter. Apexium Financial LP raised its stake in Alphabet by 335.9% during the 4th quarter. Apexium Financial LP now owns 53,823 shares of the information services provider’s stock worth $7,586,000 after acquiring an additional 41,476 shares in the last quarter. Oak Ridge Investments LLC raised its stake in Alphabet by 4.6% during the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after acquiring an additional 8,201 shares in the last quarter. Finally, EFG Asset Management Americas Corp. raised its stake in Alphabet by 9.7% during the 4th quarter. EFG Asset Management Americas Corp. now owns 116,905 shares of the information services provider’s stock worth $16,475,000 after acquiring an additional 10,359 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of NASDAQ:GOOG traded down $0.77 during midday trading on Wednesday, hitting $168.19. The stock had a trading volume of 2,758,721 shares, compared to its average volume of 20,277,189. The company has a market capitalization of $2.08 trillion, a PE ratio of 25.91, a P/E/G ratio of 1.28 and a beta of 1.05. The stock has a 50 day moving average price of $177.02 and a two-hundred day moving average price of $164.32. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its 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 business had revenue of $84.74 billion for 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 quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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 issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,565 shares of company stock valued at $27,253,193. Corporate insiders own 12.99% of the company’s stock.

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.