EWG Elevate Inc. Takes $227,000 Position in Alphabet Inc. (NASDAQ:GOOG)

EWG Elevate Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,237 shares of the information services provider’s stock, valued at approximately $227,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors grew its position in shares of Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after buying an additional 7,470,042 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after buying an additional 13,876,534 shares during the last quarter. Capital World Investors boosted its holdings in Alphabet by 2.2% in the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after purchasing an additional 979,083 shares during the period. Capital Research Global Investors grew its position in shares of Alphabet by 2.0% during the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after buying an additional 684,968 shares during the last quarter. Finally, Norges Bank bought a new position in Alphabet in the fourth quarter worth about $4,101,040,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $163.03, for a total transaction of $130,424.00. Following the transaction, the director now owns 30,024 shares of the company’s stock, valued at $4,894,812.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the sale, the chief executive officer now owns 2,227,385 shares in the company, valued at $415,941,874.90. The disclosure for this sale can be found here. Insiders have sold 144,108 shares of company stock valued at $25,464,954 over the last three months. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GOOG shares. Stifel Nicolaus lifted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. TD Cowen boosted their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. Finally, Oppenheimer raised their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average price target of $182.86.

Alphabet Stock Up 1.2 %

Shares of Alphabet stock traded up $1.98 during trading on Tuesday, hitting $165.93. 12,685,695 shares of the stock traded hands, compared to its average volume of 20,505,332. The stock has a market cap of $2.05 trillion, a P/E ratio of 25.45, a PEG ratio of 1.28 and a beta of 1.05. The company has a fifty day moving average price of $178.39 and a two-hundred day moving average price of $163.59. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

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.