Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Cobblestone Capital Advisors LLC NY

Key Points

• Cobblestone Capital Advisors LLC raised its position in Alphabet Inc. by 0.8%, acquiring an additional 1,889 shares, bringing its total holdings to 249,588 shares worth approximately $39 million.
• Several institutional investors significantly increased their stakes in Alphabet during the first quarter, including Nuveen LLC and Vanguard Group Inc., who now own positions valued at billions.
• Alphabet's recent earnings report revealed a profit of $2.31 per share, exceeding expectations, with a revenue of $96.43 billion, reflecting a year-over-year growth of 13.8%.

Cobblestone Capital Advisors LLC NY boosted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 249,588 shares of the information services provider's stock after acquiring an additional 1,889 shares during the period. Alphabet accounts for about 2.1% of Cobblestone Capital Advisors LLC NY's investment portfolio, making the stock its 14th largest position. Cobblestone Capital Advisors LLC NY's holdings in Alphabet were worth $38,993,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Lockheed Martin Investment Management Co. acquired a new stake in Alphabet in the 1st quarter valued at about $3,265,000. Nuveen LLC acquired a new stake in Alphabet in the 1st quarter valued at about $2,622,943,000. Cooper Financial Group grew its stake in Alphabet by 1.4% in the 1st quarter. Cooper Financial Group now owns 29,289 shares of the information services provider's stock valued at $4,576,000 after acquiring an additional 410 shares during the last quarter. Aveo Capital Partners LLC grew its stake in Alphabet by 18.7% in the 1st quarter. Aveo Capital Partners LLC now owns 11,010 shares of the information services provider's stock valued at $1,682,000 after acquiring an additional 1,735 shares during the last quarter. Finally, Strengthening Families & Communities LLC boosted its stake in shares of Alphabet by 3.6% during the 1st quarter. Strengthening Families & Communities LLC now owns 28,733 shares of the information services provider's stock worth $4,583,000 after purchasing an additional 989 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the sale, the director owned 6,916 shares of the company's stock, valued at $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the completion of the sale, the chief executive officer directly owned 2,494,892 shares of the company's stock, valued at $489,572,657.16. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 274,219 shares of company stock worth $49,674,273 over the last three months. Insiders own 12.99% of the company's stock.

Alphabet Trading Up 1.3%

NASDAQ GOOG traded up $2.53 during mid-day trading on Tuesday, hitting $204.16. The company's stock had a trading volume of 19,850,294 shares, compared to its average volume of 24,088,352. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The stock's fifty day simple moving average is $182.53 and its two-hundred day simple moving average is $174.34. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $2.47 trillion, a P/E ratio of 21.74, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS 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 firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the firm posted $1.89 earnings per share. Alphabet's revenue for the quarter was up 13.8% compared to the same quarter last year. Research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Analysts Set New Price Targets

GOOG has been the topic of several analyst reports. Oppenheimer reaffirmed an "outperform" rating and set a $235.00 price target (up from $220.00) on shares of Alphabet in a research note on Thursday, July 24th. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Barclays reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $215.19.

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.