Retirement Guys Formula LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 14.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,857 shares of the information services provider's stock after purchasing an additional 1,505 shares during the period. Retirement Guys Formula LLC's holdings in Alphabet were worth $2,103,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in GOOG. ACT Advisors LLC. lifted its holdings in Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider's stock valued at $288,000 after buying an additional 55 shares during the period. LongView Wealth Management grew its holdings in 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 buying an additional 56 shares in the last quarter. Kooman & Associates lifted its stake in Alphabet by 1.4% during the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider's stock valued at $732,000 after acquiring an additional 56 shares in the last quarter. NCM Capital Management LLC boosted its holdings in Alphabet by 2.2% during the first quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider's stock worth $438,000 after purchasing an additional 60 shares during the last quarter. Finally, Legacy Private Trust Co. grew its position in Alphabet by 0.6% in the 2nd quarter. Legacy Private Trust Co. now owns 9,956 shares of the information services provider's stock worth $1,766,000 after purchasing an additional 60 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
GOOG has been the topic of a number of research analyst reports. Cowen reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. The Goldman Sachs Group reiterated a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Raymond James Financial reaffirmed an "outperform" rating and set a $210.00 target price (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Pivotal Research upped their price objective on shares of Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $230.35.
Read Our Latest Analysis on GOOG
Alphabet Stock Performance
Shares of GOOG stock opened at $247.18 on Friday. The firm has a market capitalization of $2.99 trillion, a PE ratio of 26.32, a P/E/G ratio of 1.66 and a beta of 1.01. 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 50 day moving average price of $216.61 and a 200-day moving average price of $184.28. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter in the prior year, the business earned $1.89 EPS. The business'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 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.
Insider Activity at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares of the company's stock, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction 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. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 258,088 shares of company stock worth $52,405,304 in the last 90 days. Insiders own 12.99% of the company's stock.
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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