Burling Wealth Partners LLC Raises Stock Holdings in Alphabet Inc. $GOOG

Burling Wealth Partners LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 4.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,952 shares of the information services provider’s stock after acquiring an additional 1,910 shares during the quarter. Alphabet comprises approximately 1.6% of Burling Wealth Partners LLC’s portfolio, making the stock its 15th biggest position. Burling Wealth Partners LLC’s holdings in Alphabet were worth $8,861,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. IFS Advisors LLC raised its holdings 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 valued at $27,000 after buying an additional 120 shares during the last quarter. Robbins Farley grew its holdings in shares of 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 buying an additional 60 shares during the last quarter. WestEnd Advisors LLC increased its position in 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 acquiring an additional 61 shares during the period. Fairman Group LLC raised its stake in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet during the 1st quarter valued at approximately $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $279.12 on Friday. 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 $292.36. The firm has a market capitalization of $3.37 trillion, a P/E ratio of 27.53, a PEG ratio of 1.86 and a beta of 1.05. The company’s fifty day moving average is $257.00 and its two-hundred day moving average is $208.69.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping 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 company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same period in the prior year, the business posted $2.12 earnings per share. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend 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%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Scotiabank set a $336.00 target price on Alphabet and gave the company a “sector outperform” rating in a research note on Thursday, October 30th. DA Davidson set a $825.00 price objective on shares of Alphabet in a research report on Monday, October 27th. Mizuho set a $325.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Barclays raised their target price on shares of Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. Six analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 954 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $282.33, for a total value of $269,342.82. Following the sale, the chief accounting officer directly owned 14,517 shares of the company’s stock, valued at approximately $4,098,584.61. This represents a 6.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the completion of the sale, the chief executive officer owned 2,337,119 shares in the company, valued at $662,526,494.12. This represents a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 221,796 shares of company stock valued at $53,983,001 in the last three months. 12.99% of the stock is owned by insiders.

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.