Elgethun Capital Management Buys 210 Shares of Alphabet Inc. $GOOG

Elgethun Capital Management raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,268 shares of the information services provider’s stock after buying an additional 210 shares during the quarter. Elgethun Capital Management’s holdings in Alphabet were worth $1,467,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC boosted its stake in Alphabet by 580,897.4% in 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 purchasing an additional 135,064,454 shares in the last quarter. Nuveen LLC purchased a new stake in Alphabet during the 1st quarter valued at about $2,622,943,000. Vanguard Group Inc. increased its stake 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 valued at $64,299,725,000 after purchasing an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. raised 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 worth $15,971,861,000 after buying an additional 9,243,959 shares during the last quarter. Finally, Laurel Wealth Advisors LLC raised its holdings in Alphabet by 17,547.9% in the second quarter. Laurel Wealth Advisors LLC now owns 4,122,727 shares of the information services provider’s stock worth $731,331,000 after buying an additional 4,099,366 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent analyst reports. Raymond James Financial set a $275.00 price target on shares of Alphabet and gave the company an “outperform” rating in a report on Friday, October 24th. Citigroup reiterated a “market outperform” rating on shares of Alphabet in a research note on Monday. KeyCorp restated an “overweight” rating and issued a $330.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Rosenblatt Securities set a $279.00 price target on Alphabet in a report on Thursday, October 30th. Finally, Cowen reiterated a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $304.62.

Alphabet Stock Performance

GOOG stock opened at $320.28 on Thursday. 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 $328.67. The company has a market cap of $3.86 trillion, a P/E ratio of 31.59, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The stock’s fifty day moving average price is $267.17 and its 200-day moving average price is $217.73.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm 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 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 (DPR) is presently 8.28%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at $3,629,725.80. This trade represents a 16.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 227,850 shares of company stock valued at $58,874,814. 12.99% of the stock is owned by insiders.

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.