AAFMAA Wealth Management & Trust LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG)

VaselineAugust 20, 2024

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AAFMAA Wealth Management & Trust LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report ) by 1.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,770 shares of the information services provider’s stock after acquiring an additional 226 shares during the period. Alphabet accounts for about 1.6% of AAFMAA Wealth Management & Trust LLC’s holdings, making the stock its 15th largest holding. AAFMAA Wealth Management & Trust LLC’s holdings in Alphabet were worth $3,259,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have recently added to or reduced their stakes in GOOG. Twelve Points Wealth Management LLC boosted its holdings in shares of Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after purchasing an additional 55 shares in the last quarter. PCG Wealth Advisors LLC boosted its position in Alphabet by 3.1% in the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after purchasing an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV raised its stake in Alphabet by 1.6% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after acquiring an additional 57 shares during the last quarter. Mark Sheptoff Financial Planning LLC lifted its position in shares of Alphabet by 11.1% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after acquiring an additional 60 shares in the last quarter. Finally, Shira Ridge Wealth Management boosted its holdings in Alphabet by 0.4% during the second quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock worth $2,841,000 after purchasing an additional 60 shares in the last quarter. 27.26% of the shares are currently owned by institutional investors and hedge funds.

Alphabet stock up 2.2%

Shares of GOOG stock opened at $168.40 on Tuesday. The firm has a 50 day simple moving average of $177.21 and a two hundred day simple moving average of $164.14. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08, and a quick ratio of 2.08. Alphabet Inc. it has a one year low of $121.46 and a one year high of $193.31. The company has a market cap of $2.08 trillion, a P/E ratio of 25.83, a P/E/G ratio of 1.28 and a beta of 1.05.

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Alphabet (NASDAQ:GOOG – Get Free Report ) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s revenue for the quarter was up 13.6% year over year. During the same period in the previous year, the company earned $1.44 EPS. Research analysts estimate that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabetical announcement of dividends

The company 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. This represents an annualized dividend of $0.80 and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Analysts on Wall Street are forecasting an increase

Several brokerages have issued reports on GOOG. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Oppenheimer boosted their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $182.86, according to MarketBeat.com.

Get the latest stock report on Alphabet

Insider buying and selling

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a legal filing with the SEC, which is accessible via this link. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. Also, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now owns 29,324 shares of the company’s stock, valued at $4,838,460. The disclosure for this sale can be found here. Insiders have sold a total of 156,565 shares of company stock worth $27,253,193 over the past three months. 12.99% of shares are owned by corporate insiders.

About Alphabet

(Free report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It works through Google services, Google Cloud and other betting segments. The Google Services segment offers products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.