ST Germain D J Co. Inc. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,372 shares of the information services provider's stock after buying an additional 2,013 shares during the period. ST Germain D J Co. Inc.'s holdings in Alphabet were worth $14,257,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the business. BOS Asset Management LLC purchased a new stake in Alphabet during the second quarter valued at about $252,000. Evergreen Private Wealth LLC boosted its position in Alphabet by 61.5% during the second quarter. Evergreen Private Wealth LLC now owns 218 shares of the information services provider's stock valued at $39,000 after buying an additional 83 shares during the period. Strategic Investment Solutions Inc. IL boosted its position in Alphabet by 12.7% during the second quarter. Strategic Investment Solutions Inc. IL now owns 1,754 shares of the information services provider's stock valued at $311,000 after buying an additional 197 shares during the period. Five Oceans Advisors boosted its position in Alphabet by 1.3% during the second quarter. Five Oceans Advisors now owns 9,395 shares of the information services provider's stock valued at $1,667,000 after buying an additional 123 shares during the period. Finally, EdgeRock Capital LLC boosted its position in Alphabet by 5.4% during the second quarter. EdgeRock Capital LLC now owns 3,448 shares of the information services provider's stock valued at $612,000 after buying an additional 176 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently weighed in on GOOG shares. Barclays reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Robert W. Baird increased their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a report on Monday, September 22nd. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $230.35.
Get Our Latest Research Report on GOOG
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, 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. Over the last quarter, insiders have sold 258,088 shares of company stock worth $52,405,304. 12.99% of the stock is owned by insiders.
Alphabet Stock Up 0.2%
GOOG stock opened at $247.18 on Friday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. The business's 50 day moving average price is $216.61 and its two-hundred day moving average price is $184.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its 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 business had revenue of $96.43 billion during 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 business's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.89 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal 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 given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is 8.95%.
Alphabet Company Profile
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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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