Selective Wealth Management Inc. Has $361,000 Holdings in Alphabet Inc. (NASDAQ:GOOG)

10 Oct 2024, 18:54 by Danessa Lincoln · The Markets Daily

Selective Wealth Management Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 20.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,178 shares of the information services provider’s stock after acquiring an additional 368 shares during the period. Selective Wealth Management Inc.’s holdings in Alphabet were worth $361,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Richardson Financial Services Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $34,000. Abich Financial Wealth Management LLC increased its holdings in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new stake in Alphabet in the 2nd quarter valued at $37,000. HWG Holdings LP acquired a new position in shares of Alphabet in the 2nd quarter valued at $40,000. Finally, Slocum Gordon & Co LLP bought a new position in shares of Alphabet during the 2nd quarter worth about $44,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the transaction, the chief executive officer now owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 217,592 shares of company stock valued at $35,922,911. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOG traded up $0.56 during midday trading on Thursday, hitting $163.62. The company had a trading volume of 6,745,253 shares, compared to its average volume of 19,807,193. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a market capitalization of $2.02 trillion, a PE ratio of 25.03, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm’s 50-day simple moving average is $163.07 and its 200-day simple moving average is $169.07.

Alphabet (NASDAQ:GOOG – Get Free Report) last released its 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. Equities research analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Ratings Changes

A number of analysts recently weighed in on GOOG shares. UBS Group lowered their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research note on Monday. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. TD Cowen lifted their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.11.

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