GDS Wealth Management Has $311,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

GDS Wealth Management increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,693 shares of the information services provider’s stock after acquiring an additional 125 shares during the period. GDS Wealth Management’s holdings in Alphabet were worth $311,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOG. 1620 Investment Advisors Inc. bought a new position in Alphabet in the second quarter valued at $37,000. Richardson Financial Services Inc. bought a new position in Alphabet in the fourth quarter valued at $34,000. Slocum Gordon & Co LLP bought a new position in Alphabet in the second quarter valued at $44,000. Hoese & Co LLP grew its position in Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares in the last quarter. Finally, Iron Horse Wealth Management LLC bought a new position in Alphabet in the second quarter valued at $48,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,667 shares of company stock valued at $34,341,581. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $160.28 on Wednesday. The company has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 24.58, a PEG ratio of 1.13 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 company has a 50-day simple moving average of $167.82 and a 200 day simple moving average of $166.64. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.44 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of analyst reports. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. TD Cowen lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate 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.