EP Wealth Advisors LLC Has $39.63 Million Position in Alphabet Inc. $GOOG

by · The Markets Daily

EP Wealth Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 15.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 253,687 shares of the information services provider’s stock after buying an additional 33,081 shares during the quarter. EP Wealth Advisors LLC’s holdings in Alphabet were worth $39,634,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. Principia Wealth Advisory LLC boosted its holdings in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after buying an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet in the first quarter valued at approximately $26,000. Goodman Advisory Group LLC acquired a new position in shares of Alphabet in the first quarter valued at approximately $32,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet in the first quarter valued at approximately $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new position in shares of Alphabet in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,710 shares of company stock valued at $47,225,230 over the last three months. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GOOG shares. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Oppenheimer reissued an “outperform” rating and issued a $235.00 price objective (up previously from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. Cowen reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Raymond James Financial reissued an “outperform” rating and issued a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Finally, Scotiabank upped their price target on shares of Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 22nd. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.19.

Check Out Our Latest Analysis on GOOG

Alphabet Price Performance

Shares of GOOG opened at $213.53 on Tuesday. The firm has a market capitalization of $2.58 trillion, a PE ratio of 22.74, a PEG ratio of 1.44 and a beta of 1.01. The company’s 50-day moving average is $192.27 and its 200-day moving average is $175.60. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $215.34. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG – Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.89 earnings per share. Equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s dividend payout ratio is presently 8.95%.

Alphabet Profile

(Free Report)

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.

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