Duncan Williams Asset Management LLC Grows Holdings in Alphabet Inc. $GOOG

Key Points

• Duncan Williams Asset Management LLC increased its stake in Alphabet Inc. by 73.2%, owning 12,660 shares worth approximately $2.25 million as of the latest SEC filing.
• Other institutional investors, including Kingstone Capital Partners and Vanguard Group, also significantly increased their holdings in Alphabet, with Kingstone's stake rising by an astounding 580,897.4%.
• Alphabet recently declared a quarterly dividend of $0.21 per share, which contributes to an annualized yield of 0.3%, reflecting a payout ratio of 8.95%.

Duncan Williams Asset Management LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 73.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 12,660 shares of the information services provider's stock after acquiring an additional 5,349 shares during the period. Duncan Williams Asset Management LLC's holdings in Alphabet were worth $2,246,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC increased 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 purchased a new stake in Alphabet during the 1st quarter worth approximately $2,622,943,000. Vanguard Group Inc. increased 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. increased 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 purchased a new stake in Alphabet during the 1st quarter worth approximately $369,713,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director owned 5,716 shares in the company, valued at $1,425,799.04. This represents a 9.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $25,042.39. Following the completion of the sale, the director owned 17,284 shares of the company's stock, valued at $4,202,258.92. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock worth $59,135,475 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GOOG has been the topic of several recent research reports. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a report on Wednesday. Oppenheimer reiterated an "outperform" rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Finally, Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.68.

Alphabet Stock Down 0.7%

Shares of NASDAQ:GOOG opened at $245.46 on Thursday. The stock has a market cap of $2.97 trillion, a P/E ratio of 26.14, a P/E/G ratio of 1.67 and a beta of 1.00. The firm has a fifty day moving average price of $225.03 and a 200 day moving average price of $188.71. 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 1-year low of $142.66 and a 1-year high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

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