Alphabet Inc. $GOOG is Los Angeles Capital Management LLC’s 9th Largest Position

Los Angeles Capital Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,707,028 shares of the information services provider’s stock after buying an additional 65,736 shares during the quarter. Alphabet comprises approximately 1.8% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 9th biggest holding. Los Angeles Capital Management LLC’s holdings in Alphabet were worth $480,200,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. IFS Advisors LLC boosted its position in shares of Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley raised its stake in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC boosted its holdings in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the last quarter. Fairman Group LLC boosted its holdings 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 valued at $31,000 after purchasing an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet during the 1st quarter valued at $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade 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 at this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 222,396 shares of company stock worth $54,105,275. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $279.70 on Monday. The business’s 50-day simple moving average is $251.81 and its 200 day simple moving average is $205.83. The company has a market cap of $3.38 trillion, a P/E ratio of 27.58, a PEG ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $142.66 and a one year high of $291.93.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter in the prior year, the business earned $2.12 EPS. Alphabet’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research reports. Scotiabank set a $336.00 target price on Alphabet and gave the stock a “sector outperform” rating in a research report on Thursday, October 30th. Barclays raised their price objective on Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Oppenheimer boosted their target price on Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Robert W. Baird raised their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $340.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $324.81.

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.