Copperwynd Financial LLC Raises Stock Position in Alphabet Inc. $GOOG

Copperwynd Financial LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,540 shares of the information services provider’s stock after purchasing an additional 85 shares during the period. Copperwynd Financial LLC’s holdings in Alphabet were worth $1,692,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOG. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares in the last quarter. Kingstone Capital Partners Texas LLC boosted its stake in shares of Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Alphabet by 9.9% during 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 purchasing an additional 9,243,959 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Alphabet by 5.4% in the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock valued at $3,334,852,000 after acquiring an additional 1,098,996 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Alphabet by 2.2% in the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock valued at $3,183,979,000 after acquiring an additional 440,526 shares during the period. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GOOG. Pivotal Research lifted their price target on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Morgan Stanley boosted their target price on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. UBS Group set a $255.00 target price on shares of Alphabet and gave the company a “neutral” rating in a research report on Thursday. Finally, Raymond James Financial reissued an “outperform” rating and set a $210.00 target price (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Six 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 given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $241.00.

Alphabet Stock Performance

Shares of GOOG stock opened at $237.49 on Friday. 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 Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The firm has a market capitalization of $2.87 trillion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. The business has a fifty day moving average of $226.97 and a 200 day moving average of $189.81.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director directly owned 243,400 shares of the company’s stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock worth $59,135,475 in the last three months. Company insiders own 12.99% of the company’s stock.

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.