Angeles Wealth Management LLC Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Angeles Wealth Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 15.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,775 shares of the information services provider’s stock after buying an additional 4,757 shares during the period. Alphabet accounts for approximately 0.6% of Angeles Wealth Management LLC’s portfolio, making the stock its 27th largest holding. Angeles Wealth Management LLC’s holdings in Alphabet were worth $6,378,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Park Avenue Securities LLC raised its position in shares of Alphabet by 11.9% in the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after buying an additional 11,646 shares in the last quarter. Colonial River Wealth Management LLC raised its position in shares of Alphabet by 5.3% in the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after buying an additional 107 shares in the last quarter. Oak Ridge Investments LLC raised its position in shares of Alphabet by 4.6% in the first quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after buying an additional 8,201 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of Alphabet by 0.7% in the first quarter. V Square Quantitative Management LLC now owns 62,917 shares of the information services provider’s stock worth $9,580,000 after buying an additional 426 shares in the last quarter. Finally, AMG National Trust Bank raised its position in shares of Alphabet by 1.0% in the fourth quarter. AMG National Trust Bank now owns 67,054 shares of the information services provider’s stock worth $9,450,000 after buying an additional 671 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $155.54 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The firm has a market cap of $1.92 trillion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The business has a 50 day moving average price of $169.73 and a 200-day moving average price of $165.83.

Alphabet (NASDAQ:GOOG) last announced 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. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the prior year, the company posted $1.44 EPS. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Alphabet’s dividend payout ratio is presently 12.27%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday. Finally, TD Cowen raised their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the transaction, the chief executive officer now owns 2,227,385 shares in the company, valued at $415,941,874.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The disclosure for this sale can be found here. Insiders sold 201,867 shares of company stock valued at $34,218,581 in the last 90 days. Insiders own 12.99% of the company’s stock.

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.