NorthRock Partners LLC Has $11.89 Million Stock Holdings in Alphabet Inc. $GOOG

Key Points

• NorthRock Partners LLC increased its holdings in Alphabet Inc. by 4.1% in Q2, owning 67,031 shares valued at $11.89 million, after acquiring 2,654 additional shares.
• Alphabet reported $2.31 earnings per share for the quarter, exceeding analyst estimates, with revenue hitting $96.43 billion, a 13.8% year-over-year increase.
• The company declared a quarterly dividend of $0.21 per share, translating to an annualized dividend yield of 0.3% and a payout ratio of 8.95%.

NorthRock Partners LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,031 shares of the information services provider's stock after buying an additional 2,654 shares during the period. NorthRock Partners LLC's holdings in Alphabet were worth $11,891,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. ACT Advisors LLC. boosted its holdings in shares of Alphabet by 3.5% in the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider's stock worth $288,000 after acquiring an additional 55 shares in the last quarter. LongView Wealth Management boosted its holdings in shares of Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider's stock worth $909,000 after acquiring an additional 56 shares in the last quarter. Kooman & Associates boosted its holdings in shares of 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 acquiring an additional 56 shares in the last quarter. Colton Groome Financial Advisors LLC boosted its holdings in shares of 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 acquiring an additional 57 shares in the last quarter. Finally, Brueske Advisory Services LLC boosted its holdings in shares of 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 acquiring an additional 58 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

GOOG stock opened at $251.88 on Friday. The business's fifty day moving average is $231.15 and its 200-day moving average is $192.08. 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 company has a market cap of $3.05 trillion, a P/E ratio of 26.82, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $257.58.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 34.31% and a net margin of 31.12%.The firm's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio is currently 8.95%.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 17,816 shares of the company's stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O'toole sold 953 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares of the company's stock, valued at approximately $4,171,312.80. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 210,872 shares of company stock worth $46,980,865 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent analyst reports. Mizuho raised Alphabet to a "strong-buy" rating in a report on Monday, September 29th. Morgan Stanley boosted their target price on Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, October 2nd. KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday, September 3rd. TD Cowen upped their price objective on Alphabet from $270.00 to $280.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Finally, Jefferies Financial Group upped their price objective on Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $244.68.

About Alphabet

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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