InTrack Investment Management Inc lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 29.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,718 shares of the information services provider's stock after purchasing an additional 2,671 shares during the quarter. Alphabet accounts for approximately 1.4% of InTrack Investment Management Inc's portfolio, making the stock its 22nd largest position. InTrack Investment Management Inc's holdings in Alphabet were worth $2,079,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. ACT Advisors LLC. grew its holdings in shares of Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider's stock worth $288,000 after purchasing an additional 55 shares in the last quarter. LongView Wealth Management grew its holdings in shares of Alphabet by 1.1% during the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider's stock worth $909,000 after purchasing an additional 56 shares in the last quarter. Kooman & Associates lifted its position in Alphabet by 1.4% in the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider's stock worth $732,000 after buying an additional 56 shares during the last quarter. Colton Groome Financial Advisors LLC lifted its position in Alphabet by 3.4% in the 2nd quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider's stock worth $309,000 after buying an additional 57 shares during the last quarter. Finally, Brueske Advisory Services LLC lifted its position in Alphabet by 2.7% in the 2nd quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider's stock worth $389,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Alphabet Stock Down 1.9%
Shares of NASDAQ GOOG opened at $237.49 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70. The firm's fifty day moving average is $226.97 and its 200 day moving average is $189.81. The company has a market cap of $2.87 trillion, a price-to-earnings ratio of 25.29, a PEG ratio of 1.60 and a beta of 1.00.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current 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 dividend yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.
Wall Street Analysts Forecast Growth
Several research firms have commented on GOOG. Weiss Ratings reissued a "buy (b)" rating on shares of Alphabet in a research note on Wednesday. Scotiabank lifted their price target on shares of Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, July 22nd. Raymond James Financial reissued an "outperform" rating and set a $210.00 price target (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Pivotal Research lifted their price target on shares of Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Finally, Roth Capital reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $241.00.
Get Our Latest Stock Analysis on GOOG
Insider Activity at Alphabet
In related news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction that occurred 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 owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock worth $59,135,475 over the last quarter. 12.99% of the stock is owned by corporate insiders.
About Alphabet
(
Free Report)
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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Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).
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