Oldfather Financial Services LLC Buys Shares of 1,202 Alphabet Inc. $GOOG

Key Points

• Oldfather Financial Services LLC has acquired 1,202 shares of Alphabet Inc. (GOOG), valued at approximately $213,000, according to their recent SEC filing.
• Several institutional investors have increased their holdings in Alphabet, with significant boosts from firms like Burns J W & Co. Inc. and HF Advisory Group LLC.
• Alphabet recently reported $2.31 earnings per share for the last quarter, surpassing estimates, while announcing a quarterly dividend of $0.21 per share.

Oldfather Financial Services LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,202 shares of the information services provider's stock, valued at approximately $213,000.

Several other hedge funds have also modified their holdings of GOOG. ARQ Wealth Advisors LLC grew its position in shares of Alphabet by 39.3% during the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock worth $945,000 after buying an additional 1,400 shares in the last quarter. Independence Bank of Kentucky boosted its position in Alphabet by 10.2% during the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after purchasing an additional 1,376 shares in the last quarter. RDA Financial Network boosted its position in Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock valued at $1,968,000 after purchasing an additional 554 shares in the last quarter. Fermata Advisors LLC boosted its position in Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock valued at $1,527,000 after purchasing an additional 259 shares in the last quarter. Finally, jvl associates llc boosted its position in Alphabet by 3.5% during the first quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock valued at $1,571,000 after purchasing an additional 343 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 sale, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 258,088 shares of company stock valued at $52,405,304 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Down 1.3%

Shares of NASDAQ GOOG traded down $3.35 during midday trading on Monday, reaching $251.89. 14,156,217 shares of the stock were exchanged, compared to its average volume of 23,983,736. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. 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 business has a 50-day simple moving average of $210.08 and a two-hundred day simple moving average of $181.70. The company has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 1.72 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period last year, the business posted $1.89 earnings per share. The firm's quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities 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 was paid on Monday, September 15th. Stockholders 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 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is currently 8.95%.

Analyst Ratings Changes

A number of research firms have commented on GOOG. Pivotal Research increased their price target on Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Robert W. Baird raised their price objective on Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a report on Monday. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 price target (up from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. boosted their price objective on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Finally, Cowen reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $230.35.

Alphabet Company 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.