SGL Investment Advisors Inc. Buys 260 Shares of Alphabet Inc. $GOOG

SGL Investment Advisors Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,753 shares of the information services provider’s stock after purchasing an additional 260 shares during the quarter. Alphabet makes up about 2.3% of SGL Investment Advisors Inc.’s portfolio, making the stock its 14th biggest holding. SGL Investment Advisors Inc.’s holdings in Alphabet were worth $4,861,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of GOOG. Brighton Jones LLC grew its stake in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Revisor Wealth Management LLC grew its stake in Alphabet by 107.9% in the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock valued at $572,000 after purchasing an additional 1,899 shares in the last quarter. GAMMA Investing LLC grew its stake in Alphabet by 19.5% in the first quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider’s stock valued at $14,323,000 after purchasing an additional 14,931 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its stake in Alphabet by 6.6% in the first quarter. Redhawk Wealth Advisors Inc. now owns 5,408 shares of the information services provider’s stock valued at $845,000 after purchasing an additional 335 shares in the last quarter. Finally, Focus Financial Network Inc. lifted its position in shares of Alphabet by 3.7% in the first quarter. Focus Financial Network Inc. now owns 21,376 shares of the information services provider’s stock valued at $3,340,000 after buying an additional 760 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GOOG has been the subject of a number of recent analyst reports. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research report on Tuesday. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Raymond James Financial reaffirmed an “outperform” rating and issued a $210.00 price objective (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Finally, UBS Group set a $255.00 price objective on Alphabet and gave the company a “neutral” rating in a research report on Thursday. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $241.00.

Alphabet Stock Performance

NASDAQ:GOOG opened at $242.21 on Friday. The stock has a market cap of $2.93 trillion, a P/E ratio of 25.79, a PEG ratio of 1.66 and a beta of 1.00. The stock has a 50 day simple moving average of $226.01 and a 200 day simple moving average of $189.21. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the firm posted $1.89 EPS. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is currently 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company’s stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock valued at $59,135,475 in the last three months. 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.