Alphabet Inc. $GOOG Shares Acquired by GM Advisory Group LLC

GM Advisory Group LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 20.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,913 shares of the information services provider’s stock after buying an additional 9,487 shares during the period. GM Advisory Group LLC’s holdings in Alphabet were worth $10,096,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. IFS Advisors LLC increased its position in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley raised its stake in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares in the last quarter. WestEnd Advisors LLC lifted its holdings in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares during the last quarter. University of Illinois Foundation purchased a new position in shares of Alphabet in the 2nd quarter valued at about $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 valued at $31,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on GOOG. Rosenblatt Securities set a $279.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Scotiabank set a $336.00 price target on Alphabet and gave the stock a “sector outperform” rating in a research note on Thursday, October 30th. Jefferies Financial Group boosted their price objective on Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, November 7th. Finally, Robert W. Baird upped their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Seven analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $304.62.

Alphabet Trading Down 1.0%

NASDAQ:GOOG opened at $320.28 on Thursday. The stock has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $328.67. The stock has a fifty day moving average price of $267.17 and a two-hundred day moving average price of $217.73. 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 (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $99.90 billion. During the same quarter in the previous year, the firm earned $2.12 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. As a group, sell-side 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. Shareholders of record on Monday, December 8th will be given 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 is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total transaction of $9,640,800.00. Following the completion of the transaction, the chief executive officer owned 2,304,619 shares of the company’s stock, valued at approximately $683,642,180.16. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $288.26, for a total value of $800,786.28. Following the completion of the sale, the chief accounting officer 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 227,850 shares of company stock worth $58,874,814 over the last ninety days. 12.99% of the stock is currently owned by company insiders.

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.