Alphabet Inc. $GOOG Stake Lifted by PDS Planning Inc

Key Points

• PDS Planning Inc raised its stake in Alphabet Inc. by 21.3%, owning 44,559 shares worth approximately $7.9 million as of the end of the second quarter.
• Alphabet's CEO Sundar Pichai sold 32,500 shares for around $7.9 million, resulting in a 1.33% decrease in his holdings.
• Alphabet reported $96.43 billion in revenue for the last quarter, surpassing analysts' estimates, with a year-over-year growth of 13.8%.

PDS Planning Inc increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 21.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,559 shares of the information services provider's stock after buying an additional 7,831 shares during the quarter. PDS Planning Inc's holdings in Alphabet were worth $7,904,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. MorganRosel Wealth Management LLC bought a new position in Alphabet in the 1st quarter worth about $26,000. IFS Advisors LLC grew its holdings in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock worth $27,000 after buying an additional 120 shares in the last quarter. Robbins Farley grew its holdings in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider's stock worth $28,000 after buying an additional 60 shares in the last quarter. WestEnd Advisors LLC grew its holdings in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock worth $29,000 after buying an additional 61 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new position in Alphabet in the 1st quarter worth approximately $32,000. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the sale, the chief executive officer directly owned 2,402,119 shares of the company's stock, valued at $584,699,785.79. This trade represents a 1.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frances Arnold sold 103 shares of the firm's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director directly owned 17,284 shares of the company's stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,338 shares of company stock worth $59,062,683. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. TD Cowen increased their target price on shares of Alphabet from $270.00 to $280.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $210.00 price objective (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $241.00.

Alphabet Trading Up 3.0%

Shares of GOOG stock opened at $244.64 on Tuesday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a 50-day simple moving average of $227.94 and a 200 day simple moving average of $190.61. The stock has a market capitalization of $2.96 trillion, a P/E ratio of 26.05, a P/E/G ratio of 1.60 and a beta of 1.00.

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, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the firm posted $1.89 EPS. The business's revenue for the quarter was up 13.8% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 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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