Alphabet Inc. $GOOG Shares Acquired by GM Advisory Group LLC

GM Advisory Group LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 20.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 56,913 shares of the information services provider’s stock after buying an additional 9,487 shares during the quarter. GM Advisory Group LLC’s holdings in Alphabet were worth $10,096,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Alphabet by 1.3% in the second quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock worth $73,927,821,000 after acquiring an additional 5,182,111 shares during the last quarter. Kingstone Capital Partners Texas LLC increased its holdings in shares of Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after buying an additional 135,064,454 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Alphabet by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock worth $19,022,926,000 after buying an additional 441,177 shares during the period. JPMorgan Chase & Co. boosted its holdings in Alphabet by 9.9% in 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 acquiring an additional 9,243,959 shares during the last quarter. Finally, Sanders Capital LLC grew its position in Alphabet by 6.4% during the second quarter. Sanders Capital LLC now owns 35,357,943 shares of the information services provider’s stock valued at $6,272,146,000 after acquiring an additional 2,117,990 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GOOG. Cantor Fitzgerald set a $310.00 target price on Alphabet and gave the stock a “neutral” rating in a report on Thursday, October 30th. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, November 7th. Mizuho set a $325.00 price target on Alphabet in a report on Thursday, October 30th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a research report on Monday. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and a consensus target price of $304.62.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. The trade was a 1.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 227,850 shares of company stock valued at $58,874,814. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 1.0%

NASDAQ:GOOG opened at $320.28 on Thursday. The stock has a market cap of $3.86 trillion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a one year low of $142.66 and a one year high of $328.67. 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 business’s 50-day simple moving average is $267.17 and its 200 day simple moving average is $217.73.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same period in the prior year, the company posted $2.12 EPS. Alphabet’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

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.