Davis R M Inc. Has $25.96 Million Stake in Alphabet Inc. $GOOG

Davis R M Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 0.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,332 shares of the information services provider’s stock after selling 207 shares during the period. Davis R M Inc.’s holdings in Alphabet were worth $25,958,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. IFS Advisors LLC increased its stake in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares in the last quarter. Robbins Farley lifted its position in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares in the last quarter. WestEnd Advisors LLC grew its holdings in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after acquiring an additional 61 shares during the last quarter. Fairman Group LLC increased its position in Alphabet by 121.3% in the 2nd 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 shares of Alphabet in the first quarter worth about $32,000. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on GOOG shares. Cantor Fitzgerald set a $310.00 price target on shares of Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 30th. KeyCorp reaffirmed an “overweight” rating and set a $330.00 price objective on shares of Alphabet in a report on Thursday, October 30th. JPMorgan Chase & Co. lifted their target price on Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Canaccord Genuity Group restated a “buy” rating and set a $330.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Finally, Cowen reiterated a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $324.81.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 112 shares of the stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the sale, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the transaction, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 222,396 shares of company stock worth $54,105,275 over the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

GOOG stock opened at $290.59 on Tuesday. The business’s fifty day moving average is $253.35 and its 200-day moving average is $206.74. 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 company has a market cap of $3.51 trillion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $291.93.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates 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%.The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.12 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. 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.