Verus Capital Partners LLC Has $5.36 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Verus Capital Partners LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 19.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,234 shares of the information services provider’s stock after purchasing an additional 4,775 shares during the quarter. Alphabet accounts for about 0.5% of Verus Capital Partners LLC’s investment portfolio, making the stock its 29th biggest holding. Verus Capital Partners LLC’s holdings in Alphabet were worth $5,362,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Gilbert & Cook Inc. increased its position in shares of Alphabet by 15.5% in the 4th quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock valued at $4,109,000 after buying an additional 3,924 shares in the last quarter. Concentrum Wealth Management increased its holdings in shares of Alphabet by 25.0% in the fourth quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock worth $2,317,000 after acquiring an additional 3,283 shares in the last quarter. Aveo Capital Partners LLC raised its position in shares of Alphabet by 2.4% during the fourth quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock worth $937,000 after purchasing an additional 154 shares during the period. Meridian Wealth Advisors LLC lifted its holdings in shares of Alphabet by 0.5% during the 4th quarter. Meridian Wealth Advisors LLC now owns 17,950 shares of the information services provider’s stock valued at $2,530,000 after purchasing an additional 84 shares in the last quarter. Finally, Bogart Wealth LLC grew its position in shares of Alphabet by 8.2% in the 4th quarter. Bogart Wealth LLC now owns 3,287 shares of the information services provider’s stock valued at $463,000 after purchasing an additional 248 shares during the period. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on GOOG. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report 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. Finally, Oppenheimer lifted their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average target price of $182.86.

Alphabet Stock Down 0.5 %

Shares of GOOG stock opened at $157.81 on Thursday. The firm’s fifty day moving average price is $173.69 and its two-hundred day moving average price is $165.59. 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 Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The firm has a market capitalization of $1.95 trillion, a P/E ratio of 24.20, a PEG ratio of 1.22 and a beta of 1.05.

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

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,565 shares of company stock worth $27,043,340. Insiders own 12.99% of the company’s stock.

About Alphabet

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.