TSA Wealth Management LLC invested $206,000 in Alphabet Inc. (NASDAQ:GOOG)

TSA Wealth Management LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) during the 2nd quarter, HoldingsChannel reports. The firm acquired 1,122 shares of the information services provider’s stock, valued at approximately $206,000.

A number of other hedge funds have also recently modified their holdings of the company. Partnership Wealth Management LLC purchased a new position in shares of Alphabet in the 4th quarter worth $26,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at $32,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at $34,000. Richardson Financial Services Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at $34,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet in the second quarter valued at $37,000. Institutional investors and hedge funds own 27.26% of the company’s shares.

Analysts on Wall Street are forecasting an increase

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

Check out our latest report on Alphabet

Indoor activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the sale, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The transaction was disclosed in a legal filing with the SEC, which is accessible via this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the completion of the transaction, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at $394,746,532.38. The sale was disclosed in a filing with the SEC, which can be accessed via this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 179,065 shares of company stock worth $31,025,543. 12.99% of shares are currently held by corporate insiders.

Alphabet trading down 1.1%

Shares of GOOG stock opened at $164.50 on Thursday. The stock’s 50-day moving average price is $175.92 and its 200-day moving average price is $165.02. The company has a quick ratio of 2.08, a current ratio of 2.08, and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31.

Alphabet (NASDAQ:GOOG – Get Your Free Report ) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s quarterly revenue was up 13.6% year over year. In the same period last year, the business posted earnings per share of $1.44. As a group, research analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet announces dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a $0.20 dividend. This represents an annualized dividend of $0.80 and a yield of 0.49%. The ex-dividend date of this dividend is Monday, September 9. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Alphabet Company Profile

(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 advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

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Want to see what other hedge funds own GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Alphabet Inc. (NASDAQ:GOOG – Free Report).

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