Almanack Investment Partners LLC. Boosts Stock Position in Alphabet Inc. $GOOG

Key Points

• Almanack Investment Partners LLC increased its stake in Alphabet Inc. by 25.1%, owning a total of 9,505 shares valued at approximately $1.69 million after acquiring an additional 1,908 shares in the second quarter.
• Insider trading was reported with CAO Amie Thuener O'toole selling 953 shares while Director John L. Hennessy sold 600 shares, indicating a drop in their respective positions by 5.22% and 10.50%.
• Analysts have a consensus rating of "Moderate Buy" for Alphabet, with J.P. Morgan increasing its target price to $260.00, reflecting a positive outlook for the company's stock.

Almanack Investment Partners LLC. lifted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 25.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,505 shares of the information services provider's stock after purchasing an additional 1,908 shares during the quarter. Almanack Investment Partners LLC.'s holdings in Alphabet were worth $1,686,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Brighton Jones LLC boosted its holdings in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Revisor Wealth Management LLC boosted its holdings in Alphabet by 107.9% during the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider's stock valued at $572,000 after acquiring an additional 1,899 shares during the period. GAMMA Investing LLC boosted its holdings in Alphabet by 19.5% during the 1st quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider's stock valued at $14,323,000 after acquiring an additional 14,931 shares during the period. JBR Co Financial Management Inc boosted its holdings in Alphabet by 36.0% during the 1st quarter. JBR Co Financial Management Inc now owns 11,378 shares of the information services provider's stock valued at $1,778,000 after acquiring an additional 3,014 shares during the period. Finally, Dunhill Financial LLC boosted its holdings in Alphabet by 12.1% during the 1st quarter. Dunhill Financial LLC now owns 14,191 shares of the information services provider's stock valued at $2,217,000 after acquiring an additional 1,537 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Amie Thuener O'toole sold 953 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the transaction, the chief accounting officer owned 17,294 shares of the company's stock, valued at approximately $4,171,312.80. This represents a 5.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the transaction, the director directly owned 5,116 shares of the company's stock, valued at $1,242,778.72. This represents a 10.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 210,872 shares of company stock worth $46,980,865. Insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GOOG shares. JPMorgan Chase & Co. increased their target price on Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Barclays restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Piper Sandler restated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Finally, BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $244.68.

Alphabet Trading Up 0.1%

NASDAQ GOOG opened at $251.88 on Friday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $257.58. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a 50 day simple moving average of $231.15 and a two-hundred day simple moving average of $192.08. The stock has a market cap of $3.05 trillion, a P/E ratio of 26.82, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00.

Alphabet (NASDAQ:GOOG - Get Free Report) last released 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. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter last year, the business posted $1.89 EPS. The business's revenue was up 13.8% on a year-over-year basis. On average, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued 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%.

Alphabet 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.

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