RMR Wealth Builders Buys 473 Shares of Alphabet Inc. $GOOG
by Renee Jackson · The Cerbat GemRMR Wealth Builders grew its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,182 shares of the information services provider’s stock after purchasing an additional 473 shares during the quarter. RMR Wealth Builders’ holdings in Alphabet were worth $4,112,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Principia Wealth Advisory LLC lifted its holdings in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $26,000. Goodman Advisory Group LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $32,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet during the first quarter valued at approximately $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new stake in shares of Alphabet during the first quarter valued at approximately $34,000. Institutional investors own 27.26% of the company’s stock.
Insider Buying and Selling
In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total value of $6,497,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,462,392 shares of the company’s stock, valued at $492,281,408.64. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director directly owned 6,916 shares of the company’s stock, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,710 shares of company stock valued at $49,208,380 over the last three months. Insiders own 12.99% of the company’s stock.
Alphabet Stock Performance
NASDAQ:GOOG opened at $241.38 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a fifty day simple moving average of $202.67 and a two-hundred day simple moving average of $178.92. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $242.57. The company has a market capitalization of $2.92 trillion, a P/E ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01.
Alphabet (NASDAQ:GOOG – Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same period last year, the business posted $1.89 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.
Analyst Upgrades and Downgrades
GOOG has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. JPMorgan Chase & Co. increased their price target on Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. KeyCorp set a $265.00 price target on Alphabet in a research report on Wednesday, September 3rd. Scotiabank increased their price target on Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 22nd. Finally, Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.56.
Read Our Latest Analysis on Alphabet
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.
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