Sanders Morris Harris LLC Has $4.84 Million Position in Alphabet Inc. $GOOG

Sanders Morris Harris LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1,183.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,857 shares of the information services provider’s stock after purchasing an additional 18,310 shares during the quarter. Alphabet comprises 0.6% of Sanders Morris Harris LLC’s holdings, making the stock its 25th largest holding. Sanders Morris Harris LLC’s holdings in Alphabet were worth $4,836,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. IFS Advisors LLC grew its stake in 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 acquiring an additional 120 shares during the period. Robbins Farley lifted its stake in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC grew its position in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares in the last quarter. Fairman Group LLC boosted its stake in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after buying an additional 97 shares during the last quarter. Finally, University of Illinois Foundation bought a new position in Alphabet in the 2nd quarter valued at $31,000. 27.26% of the stock is owned by institutional investors.

Insider Activity

In related news, insider John Kent Walker sold 17,816 shares of the company’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 transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 228,906 shares of company stock valued at $63,984,117. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a report on Wednesday. BMO Capital Markets reissued an “outperform” rating and set a $340.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Cowen reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, December 12th. TD Cowen upped their price target on shares of Alphabet from $335.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $313.04.

Alphabet Trading Down 3.1%

Shares of GOOG opened at $298.06 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $328.67. The firm has a 50 day moving average price of $287.17 and a 200-day moving average price of $233.11. The firm has a market cap of $3.60 trillion, a price-to-earnings ratio of 29.39, a PEG ratio of 1.78 and a beta of 1.07.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same period in the previous year, the firm posted $2.12 earnings per share. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities research 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 was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were issued a $0.21 dividend. The ex-dividend date was Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) 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.