Alphabet Inc. $GOOG Shares Bought by Callan Family Office LLC

Callan Family Office LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 94.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 295,786 shares of the information services provider’s stock after acquiring an additional 143,495 shares during the quarter. Alphabet accounts for about 1.7% of Callan Family Office LLC’s portfolio, making the stock its 8th biggest holding. Callan Family Office LLC’s holdings in Alphabet were worth $52,469,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of GOOG. Kingstone Capital Partners Texas LLC raised its holdings in 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 period. Nuveen LLC acquired a new stake in Alphabet during the 1st quarter worth about $2,622,943,000. Vanguard Group Inc. raised its holdings in Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after buying an additional 9,687,855 shares during the period. JPMorgan Chase & Co. raised its holdings in Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after buying an additional 9,243,959 shares during the period. Finally, Strs Ohio acquired a new stake in Alphabet during the 1st quarter worth about $369,713,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOG has been the topic of several recent analyst reports. Lake Street Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Scotiabank upped their target price on Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 22nd. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Finally, Mizuho upgraded Alphabet to a “strong-buy” rating in a report on Monday, September 29th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $241.00.

Insider Buying and Selling

In related news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction on 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 transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the transaction, the director directly owned 5,716 shares of the company’s stock, valued at approximately $1,425,799.04. This trade represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,338 shares of company stock valued at $59,062,683 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Down 1.9%

Shares of Alphabet stock opened at $237.49 on Monday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.87 trillion, a P/E ratio of 25.29, a PEG ratio of 1.60 and a beta of 1.00. The stock has a 50 day moving average price of $226.97 and a two-hundred day moving average price of $189.99.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the prior year, the business earned $1.89 earnings per share. Alphabet’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio is currently 8.95%.

About Alphabet

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.