Sutton Place Investors LLC Purchases 346 Shares of Alphabet Inc. $GOOG

Sutton Place Investors LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 10.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,530 shares of the information services provider’s stock after buying an additional 346 shares during the period. Sutton Place Investors LLC’s holdings in Alphabet were worth $626,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. MorganRosel Wealth Management LLC purchased a new stake in Alphabet in the 1st quarter worth $26,000. Robbins Farley increased its stake in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares in the last quarter. Goodman Advisory Group LLC purchased a new stake in Alphabet in the 1st quarter worth $32,000. Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet in the 1st quarter worth $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new position in shares of Alphabet during the first quarter valued at about $34,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 1.7%

Shares of NASDAQ:GOOG opened at $247.13 on Wednesday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The business has a 50 day simple moving average of $224.07 and a two-hundred day simple moving average of $188.32. The firm has a market capitalization of $2.99 trillion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (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 analyst estimates of $93.67 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared 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. 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%.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director owned 5,716 shares of the company’s stock, valued at approximately $1,425,799.04. The trade was a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This represents a 0.59% 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 valued at $59,135,475. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GOOG shares. Cowen restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. UBS Group raised their price objective on Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price target (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.33.

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.