Smallwood Wealth Investment Management LLC Has $1.38 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Smallwood Wealth Investment Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,500 shares of the information services provider’s stock after purchasing an additional 160 shares during the quarter. Alphabet accounts for 1.1% of Smallwood Wealth Investment Management LLC’s portfolio, making the stock its 19th largest holding. Smallwood Wealth Investment Management LLC’s holdings in Alphabet were worth $1,376,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GOOG. Partnership Wealth Management LLC bought a new stake in Alphabet during the fourth quarter worth about $26,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the 4th quarter worth approximately $32,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Alphabet during the 4th quarter valued at $34,000. Richardson Financial Services Inc. bought a new position in Alphabet in the 4th quarter valued at $34,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Alphabet in the second quarter worth $37,000. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the sale, 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 legal filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 179,065 shares of company stock worth $31,025,543. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Down 0.9 %

Shares of GOOG traded down $1.55 on Tuesday, reaching $166.38. 13,694,881 shares of the company’s stock were exchanged, compared to its average volume of 20,219,568. The business has a 50 day moving average price of $176.13 and a two-hundred day moving average price of $164.91. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The stock has a market capitalization of $2.06 trillion, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

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

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research analyst reports. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. TD Cowen boosted their target price 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. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Oppenheimer boosted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. One 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $182.86.

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.