Symmetry Partners LLC Has $1.99 Million Position in Alphabet Inc. $GOOG

Symmetry Partners LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,225 shares of the information services provider’s stock after buying an additional 752 shares during the period. Symmetry Partners LLC’s holdings in Alphabet were worth $1,991,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principia Wealth Advisory LLC increased its stake in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet during the 1st quarter worth about $26,000. Goodman Advisory Group LLC acquired a new position in shares of Alphabet during the 1st quarter worth about $32,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet during the 1st quarter worth about $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new position in shares of Alphabet during the 1st quarter worth about $34,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on GOOG. Oppenheimer restated an “outperform” rating and set a $270.00 price objective (up from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Scotiabank boosted their price objective on shares of Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 22nd. Piper Sandler restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Citizens Jmp raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $230.35.

Alphabet Stock Performance

NASDAQ GOOG opened at $244.36 on Tuesday. 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 capitalization of $2.96 trillion, a P/E ratio of 26.02, a P/E/G ratio of 1.67 and a beta of 1.01. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The firm has a 50-day moving average price of $217.67 and a two-hundred day moving average price of $185.06.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.89 EPS. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is currently 8.95%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director directly owned 240,400 shares of the company’s stock, valued at $44,656,704. This represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 257,866 shares of company stock worth $52,363,610. Company insiders own 12.99% of the company’s stock.

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.