ETF Store Inc. Takes Position in Alphabet Inc. $GOOG

ETF Store Inc. acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,215 shares of the information services provider’s stock, valued at approximately $215,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. REDW Wealth LLC increased its stake in shares of Alphabet by 2.3% during the 2nd quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock worth $428,000 after purchasing an additional 54 shares during the last quarter. ACT Advisors LLC. grew its holdings in Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after purchasing an additional 55 shares during the period. Moser Wealth Advisors LLC grew its holdings in Alphabet by 2.2% during the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock valued at $451,000 after purchasing an additional 55 shares during the period. LongView Wealth Management increased its position in Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after buying an additional 56 shares during the last quarter. Finally, Kooman & Associates raised its stake in shares of Alphabet by 1.4% in the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after buying an additional 56 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Down 2.0%

GOOG stock opened at $279.70 on Friday. The company’s 50 day moving average is $251.81 and its 200 day moving average is $205.14. The stock has a market cap of $3.38 trillion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $291.93.

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

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given 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

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’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 value of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 222,396 shares of company stock worth $54,105,275. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Bank of America increased their price target on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Rosenblatt Securities set a $279.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Raymond James Financial set a $275.00 price target on shares of Alphabet and gave the company an “outperform” rating in a research report on Friday, October 24th. DA Davidson set a $825.00 price target on shares of Alphabet in a research note on Monday, October 27th. Finally, Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $324.81.

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.