First Command Advisory Services Inc. Takes $1.76 Million Position in Alphabet Inc. (NASDAQ:GOOG)

First Command Advisory Services Inc. bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,580 shares of the information services provider’s stock, valued at approximately $1,757,000.

Several other hedge funds have also bought and sold shares of the business. Callan Family Office LLC boosted its stake in Alphabet by 91.7% during the second quarter. Callan Family Office LLC now owns 18,704 shares of the information services provider’s stock worth $3,431,000 after acquiring an additional 8,946 shares in the last quarter. Catalyst Financial Partners LLC boosted its stake in Alphabet by 3.5% during the second quarter. Catalyst Financial Partners LLC now owns 31,468 shares of the information services provider’s stock worth $5,772,000 after acquiring an additional 1,059 shares in the last quarter. IMA Advisory Services Inc. boosted its stake in Alphabet by 3.5% during the second quarter. IMA Advisory Services Inc. now owns 27,327 shares of the information services provider’s stock worth $5,012,000 after acquiring an additional 920 shares in the last quarter. Catalyst Capital Advisors LLC boosted its stake in Alphabet by 222.3% during the second quarter. Catalyst Capital Advisors LLC now owns 6,814 shares of the information services provider’s stock worth $1,250,000 after acquiring an additional 4,700 shares in the last quarter. Finally, Rooted Wealth Advisors Inc. bought a new position in shares of Alphabet in the second quarter worth approximately $335,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 0.9 %

Shares of GOOG stock opened at $166.38 on Wednesday. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The stock has a market cap of $2.06 trillion, a P/E ratio of 25.52, a P/E/G 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. The company has a 50 day simple moving average of $176.13 and a two-hundred day simple moving average of $164.91.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the prior year, the company earned $1.44 earnings per share. The firm’s revenue was up 13.6% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The disclosure for this sale can be found here. Insiders sold a total of 179,065 shares of company stock worth $31,025,543 over the last three months. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Alphabet Company 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.