Profund Advisors LLC Increases Stock Position in Alphabet Inc. $GOOG

Profund Advisors LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 237,353 shares of the information services provider’s stock after acquiring an additional 19,250 shares during the period. Alphabet makes up about 1.5% of Profund Advisors LLC’s investment portfolio, making the stock its 10th biggest position. Profund Advisors LLC’s holdings in Alphabet were worth $42,104,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. RDA Financial Network boosted its stake in shares of Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after purchasing an additional 554 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in Alphabet by 1.4% during the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after purchasing an additional 2,304 shares during the last quarter. Oldfather Financial Services LLC bought a new position in Alphabet during the 2nd quarter valued at about $213,000. Tower View Wealth Management LLC boosted its position in Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after buying an additional 1,776 shares in the last quarter. Finally, Dock Street Asset Management Inc. grew its stake in Alphabet by 0.8% during the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after buying an additional 1,970 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 3.9%

NASDAQ:GOOG opened at $290.59 on Tuesday. The company has a market cap of $3.51 trillion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 1.86 and a beta of 1.05. 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’s fifty day moving average price is $253.35 and its two-hundred day moving average price is $206.74. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $291.93.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the firm earned $2.12 EPS. On average, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the completion of the sale, the chief executive officer owned 2,337,119 shares in the company, valued at $662,526,494.12. The trade was a 1.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 222,396 shares of company stock worth $54,105,275. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GOOG shares. Barclays lifted their target price on shares of Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Raymond James Financial set a $275.00 price target on Alphabet and gave the company an “outperform” rating in a report on Friday, October 24th. DA Davidson set a $825.00 price objective on Alphabet in a research report on Monday, October 27th. Cowen restated a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

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.