Alphabet Inc. $GOOG Shares Bought by Grandfield & Dodd LLC

Grandfield & Dodd LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,188 shares of the information services provider’s stock after purchasing an additional 690 shares during the period. Grandfield & Dodd LLC’s holdings in Alphabet were worth $3,936,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. IFS Advisors LLC increased its position in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley raised its position in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares in the last quarter. WestEnd Advisors LLC increased its stake in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares during the last quarter. Fairman Group LLC raised its holdings in Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new position in Alphabet during the 1st quarter valued at $32,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GOOG shares. Piper Sandler boosted their target price on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Morgan Stanley boosted their price objective on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Wolfe Research increased their target price on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Bank of America upped their price target on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Six analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $324.81.

Insider Activity

In related news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s 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 completion of the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 221,796 shares of company stock worth $53,983,001. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Down 2.9%

Alphabet stock opened at $279.12 on Friday. The firm’s 50 day moving average price is $257.00 and its two-hundred day moving average price is $208.69. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $292.36. The firm has a market cap of $3.37 trillion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The business 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%.Alphabet’s revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.12 earnings per share. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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 issued a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.28%.

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.