Pure Financial Advisors LLC Grows Position in Alphabet Inc. $GOOG

Key Points

• Pure Financial Advisors LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 22.1% in the second quarter, acquiring an additional 5,608 shares and totaling their holdings to 31,028 shares worth $5,504,000.
• Notable hedge funds have also significantly altered their investments in Alphabet, with Kingstone Capital Partners increasing their position by a staggering 580,897.4% and owning 135 million shares valued at approximately $24 billion.
• Alphabet announced a quarterly dividend of $0.21, resulting in an annualized yield of 0.3%, with a low payout ratio of 8.95% reflecting a strong financial position.

Pure Financial Advisors LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 22.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,028 shares of the information services provider's stock after acquiring an additional 5,608 shares during the quarter. Pure Financial Advisors LLC's holdings in Alphabet were worth $5,504,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC increased its position in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock valued at $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. Nuveen LLC purchased a new position in shares of Alphabet in the first quarter valued at $2,622,943,000. Vanguard Group Inc. increased its position in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Alphabet in the first quarter valued at $369,713,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. KeyCorp set a $265.00 price target on Alphabet in a research report on Wednesday, September 3rd. Morgan Stanley increased their price objective on Alphabet from $210.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday. Raymond James Financial reaffirmed an "outperform" rating and set a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Jefferies Financial Group increased their price objective on Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Cowen reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Five research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $235.33.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the sale, the chief executive officer owned 2,402,119 shares of the company's stock, valued at approximately $584,699,785.79. This represents a 1.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director directly owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. This trade represents a 9.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 276,738 shares of company stock worth $59,135,475. Company insiders own 12.99% of the company's stock.

Alphabet Stock Up 0.0%

Shares of NASDAQ:GOOG opened at $246.45 on Friday. The stock's 50-day moving average price is $221.89 and its two-hundred day moving average price is $187.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The firm has a market cap of $2.98 trillion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.66 and a beta of 1.00.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period last year, the company earned $1.89 EPS. The firm's quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts forecast 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 $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's 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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