Armstrong Fleming & Moore Inc Has $781,000 Stock Holdings in Alphabet Inc. $GOOG

Armstrong Fleming & Moore Inc increased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 119.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,400 shares of the information services provider's stock after buying an additional 2,391 shares during the quarter. Armstrong Fleming & Moore Inc's holdings in Alphabet were worth $781,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GOOG. Kingstone Capital Partners Texas LLC raised its stake in Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock worth $23,963,208,000 after buying an additional 135,064,454 shares during the period. Nuveen LLC acquired a new position in Alphabet during the 1st quarter worth approximately $2,622,943,000. Vanguard Group Inc. raised its stake in Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after buying an additional 9,687,855 shares during the period. JPMorgan Chase & Co. raised its stake in Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after buying an additional 9,243,959 shares during the period. Finally, Strs Ohio acquired a new position in Alphabet during the 1st quarter worth approximately $369,713,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,738 shares of company stock valued at $59,135,475. Company insiders own 12.99% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on GOOG shares. Morgan Stanley upped their price target on Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, October 2nd. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Weiss Ratings reissued a "buy (b)" rating on shares of Alphabet in a report on Wednesday. Finally, Roth Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $241.00.

Alphabet Stock Performance

GOOG stock opened at $237.49 on Friday. The firm has a market cap of $2.87 trillion, a PE ratio of 25.29, a P/E/G ratio of 1.60 and a beta of 1.00. 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 business has a 50 day moving average of $226.97 and a 200-day moving average of $189.81. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. The company 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%.Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 earnings per share. As a group, sell-side analysts expect 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 issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio 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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