Alphabet Inc. $GOOG Stake Increased by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 163.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 232 shares of the information services provider’s stock after purchasing an additional 144 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Alphabet were worth $41,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Alphabet by 9.9% during 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 purchasing an additional 9,243,959 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock worth $3,334,852,000 after purchasing an additional 1,098,996 shares during the period. Invesco Ltd. lifted its position in shares of Alphabet by 2.2% in the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock worth $3,183,979,000 after buying an additional 440,526 shares during the last quarter. Finally, Nuveen LLC bought a new position in Alphabet in the first quarter worth about $2,622,943,000. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of a number of research reports. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Lake Street Capital restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Finally, Oppenheimer reissued an “outperform” rating and set a $270.00 target price (up from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $227.56.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The stock was 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 approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 258,088 shares of company stock worth $52,405,304. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $249.85 on Thursday. The company has a market capitalization of $3.02 trillion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.69 and a beta of 1.01. 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 stock has a fifty day moving average of $207.12 and a 200-day moving average of $180.46. Alphabet Inc. has a one year low of $142.66 and a one year high of $253.23.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the prior year, the business posted $1.89 earnings per share. Alphabet’s revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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

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.