Parkside Financial Bank & Trust Raises Stock Position in Alphabet Inc. $GOOG

Parkside Financial Bank & Trust grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 27,535 shares of the information services provider’s stock after acquiring an additional 2,668 shares during the period. Parkside Financial Bank & Trust’s holdings in Alphabet were worth $4,884,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. RDA Financial Network grew its holdings in Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after acquiring an additional 554 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Alphabet by 1.4% in the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after purchasing an additional 2,304 shares in the last quarter. Oldfather Financial Services LLC purchased a new stake in shares of Alphabet in the 2nd quarter worth approximately $213,000. Tower View Wealth Management LLC lifted its position in shares of Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after purchasing an additional 1,776 shares during the period. Finally, Dock Street Asset Management Inc. boosted its stake in shares of Alphabet by 0.8% during the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after purchasing an additional 1,970 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $279.70 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.38 trillion, a PE ratio of 27.58, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $291.93. The stock has a fifty day moving average price of $251.81 and a 200-day moving average price of $205.83.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same period in the prior year, the company posted $2.12 EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is 8.28%.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were 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 $10,635,348.70. This trade represents a 29.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 222,396 shares of company stock valued at $54,105,275 in the last three months. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of recent research reports. BMO Capital Markets reissued an “outperform” rating and issued a $340.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Raymond James Financial set a $275.00 price target on Alphabet and gave the company an “outperform” rating in a report on Friday, October 24th. Cowen reissued a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Canaccord Genuity Group restated a “buy” rating and set a $330.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Finally, Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $324.81.

Alphabet 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.