Modera Wealth Management LLC has $68.52 million in Alphabet Inc stock. (NASDAQ:GOOG)

VaselineAugust 31, 2024

0 4 minutes read

Modera Wealth Management LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 373,544 shares of the information services provider’s stock after selling 799 shares during the period. Alphabet makes up about 1.0% of Modera Wealth Management LLC’s investment portfolio, making the stock its 27th biggest holding. Modera Wealth Management LLC’s holdings in Alphabet were worth $68,515,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have recently made changes to their positions in the company. Partnership Wealth Management LLC bought a new position in shares of Alphabet in the 4th quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter valued at $34,000. Richardson Financial Services Inc. bought a new position in shares of Alphabet in the 4th quarter valued at $34,000. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet in the second quarter valued at $37,000. Finally, Hoese & Co LLP boosted its position in shares of Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares in the last quarter. 27.26% of the shares are owned by institutional investors and hedge funds.

Alphabet price performance

NASDAQ:GOOG opened at $165.11 on Friday. The stock’s 50-day simple moving average is $175.40 and its 200-day simple moving average is $165.01. The company has a market cap of $2.04 trillion, a P/E ratio of 25.32, a P/E/G ratio of 1.28 and a beta of 1.05. 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. it has a 52-week low of $121.46 and a 52-week high of $193.31.

Want more great investment ideas?

Alphabet (NASDAQ:GOOG – Get Free Report ) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for 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%. The company’s revenue was up 13.6% compared to the same quarter last year. In the same quarter last year, the company earned $1.44 per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabetical announcement of dividends

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 given a dividend of $0.20 per share. This represents a dividend of $0.80 on an annualized basis and a 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%.

The Wall Street analyst weighs in

Several research analysts recently issued reports on GOOG shares. Oppenheimer upped their target price on Alphabet from $205.00 to $210.00 and gave the stock 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. TD Cowen raised their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Alphabet has a consensus rating of “Buy” and an average price target of $182.86, according to MarketBeat.com.

Read the latest research report on GOOG

Indoor activity

In other 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 value of $4,201,650.00. Following the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value 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 $5,209,888.76. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the sale, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,065 shares of company stock valued at $31,025,543. 12.99% of shares are owned by 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 advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.