Almanack Investment Partners LLC. Purchases 1,908 Shares of Alphabet Inc. $GOOG

Almanack Investment Partners LLC. lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 25.1% in the 2nd quarter, Holdings Channel reports. The fund owned 9,505 shares of the information services provider’s stock after acquiring an additional 1,908 shares during the quarter. Almanack Investment Partners LLC.’s holdings in Alphabet were worth $1,686,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new position in Alphabet during the 1st quarter valued at approximately $26,000. IFS Advisors LLC increased its position in Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares in the last quarter. Robbins Farley increased its position 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 buying an additional 60 shares in the last quarter. WestEnd Advisors LLC increased its position in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares in the last quarter. Finally, Goodman Advisory Group LLC bought a new position in Alphabet during the 1st quarter valued at approximately $32,000. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 210,872 shares of company stock valued at $46,980,865. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on GOOG shares. Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Mizuho upgraded Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. UBS Group set a $255.00 target price on Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 9th. Finally, Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, October 8th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.68.

Alphabet Stock Performance

GOOG stock opened at $251.88 on Friday. The company has a market cap of $3.05 trillion, a P/E ratio of 26.82, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.58. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock’s fifty day moving average price is $231.15 and its 200-day moving average price is $192.08.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period last year, the business posted $1.89 EPS. On average, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.

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.