Coldstream Capital Management Inc. Purchases 13,960 Shares of Alphabet Inc. $GOOG

Coldstream Capital Management Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.3% in the second quarter, Holdings Channel reports. The fund owned 137,679 shares of the information services provider’s stock after buying an additional 13,960 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Alphabet were worth $24,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Alphabet by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock valued at $73,927,821,000 after buying an additional 5,182,111 shares during the last quarter. Kingstone Capital Partners Texas LLC grew its stake in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Alphabet by 0.4% in the second quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock worth $19,022,926,000 after acquiring an additional 441,177 shares during the last quarter. JPMorgan Chase & Co. increased its position in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the period. Finally, Sanders Capital LLC raised its stake in Alphabet by 6.4% during the 2nd quarter. Sanders Capital LLC now owns 35,357,943 shares of the information services provider’s stock valued at $6,272,146,000 after purchasing an additional 2,117,990 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

NASDAQ:GOOG opened at $299.65 on Friday. 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 firm has a 50-day moving average price of $262.98 and a 200 day moving average price of $214.24. The firm has a market capitalization of $3.62 trillion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $306.89.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company’s revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.12 EPS. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the transaction, the director directly owned 4,516 shares of the company’s stock, valued at $1,264,750.96. This trade represents a 11.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $288.26, for a total transaction of $800,786.28. Following the sale, the chief accounting officer directly owned 11,739 shares in the company, valued at $3,383,884.14. This represents a 19.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 227,952 shares of company stock worth $58,896,009 in the last quarter. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, November 7th. HSBC reissued a “buy” rating and set a $335.00 target price on shares of Alphabet in a research report on Thursday, October 30th. JPMorgan Chase & Co. upped their price target on Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Canaccord Genuity Group reiterated a “buy” rating and issued a $330.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Finally, TD Cowen lifted their price objective on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.