Titleist Asset Management LLC Purchases 5,382 Shares of Alphabet Inc. $GOOG

Titleist Asset Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 19.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,492 shares of the information services provider’s stock after purchasing an additional 5,382 shares during the period. Titleist Asset Management LLC’s holdings in Alphabet were worth $5,941,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 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 worth $27,000 after buying an additional 120 shares during the period. Robbins Farley boosted its holdings 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 acquiring an additional 60 shares during the period. WestEnd Advisors LLC grew 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 last quarter. University of Illinois Foundation bought a new position in Alphabet in the 2nd quarter valued at $31,000. Finally, Fairman Group LLC increased its stake in Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Pivotal Research boosted their price objective on shares of Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Cantor Fitzgerald set a $310.00 target price on shares of Alphabet and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Cowen reaffirmed a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $324.81.

Insider Buying and Selling

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

Alphabet Stock Up 3.3%

Shares of Alphabet stock opened at $299.65 on Friday. 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 has a market cap of $3.62 trillion, a price-to-earnings ratio of 29.55, a PEG ratio of 1.86 and a beta of 1.05. The firm’s 50-day moving average is $262.98 and its two-hundred day moving average is $214.24. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $306.89.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS 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 business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same quarter in the previous year, the business posted $2.12 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Alphabet 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.