1,210 Shares in Alphabet Inc. $GOOG Acquired by Atwater Malick LLC

Key Points

• Atwater Malick LLC acquired 1,210 shares of Alphabet Inc., valued at approximately $215,000, during the second quarter of the year, according to a recent SEC filing.
• Several hedge funds, including the Oriental Harbor Investment Fund, have significantly increased their stakes in Alphabet, with a reported 322.6% increase in shares owned.
• Analysts maintain a strong outlook for Alphabet, with the stock receiving multiple "buy" ratings and an average price target of $235.33.

Atwater Malick LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,210 shares of the information services provider's stock, valued at approximately $215,000.

Other hedge funds have also bought and sold shares of the company. Oriental Harbor Investment Fund lifted its position in shares of Alphabet by 322.6% in the 2nd quarter. Oriental Harbor Investment Fund now owns 2,764,923 shares of the information services provider's stock worth $490,405,000 after buying an additional 2,110,605 shares during the last quarter. Mattern Capital Management LLC raised its stake in shares of Alphabet by 86.4% during the second quarter. Mattern Capital Management LLC now owns 11,093 shares of the information services provider's stock valued at $1,968,000 after purchasing an additional 5,143 shares in the last quarter. Cromwell Holdings LLC increased its stake in shares of Alphabet by 3.5% during the second quarter. Cromwell Holdings LLC now owns 14,198 shares of the information services provider's stock valued at $2,519,000 after acquiring an additional 486 shares during the period. River Street Advisors LLC lifted its holdings in shares of Alphabet by 2.5% in the second quarter. River Street Advisors LLC now owns 2,481 shares of the information services provider's stock valued at $440,000 after buying an additional 60 shares during the period. Finally, Sullivan Wood Capital Management LLC acquired a new stake in Alphabet during the second quarter valued at approximately $2,026,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several analyst reports. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Barclays reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Finally, BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $235.33.

Alphabet Stock Performance

Shares of GOOG stock opened at $246.45 on Monday. The stock has a market capitalization of $2.98 trillion, a PE ratio of 26.25, a PEG ratio of 1.66 and a beta of 1.00. 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 Inc. has a one year low of $142.66 and a one year high of $256.70. The business's 50 day simple moving average is $221.89 and its 200 day simple moving average is $187.31.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Activity

In other news, CAO Amie Thuener O'toole sold 953 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the transaction, the chief accounting officer directly owned 17,294 shares of the company's stock, valued at $4,171,312.80. This represents a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 17,816 shares of the business's stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,738 shares of company stock worth $59,135,475. 12.99% of the stock is owned by insiders.

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.

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