Alphabet Inc. $GOOG is Pursue Wealth Partners LLC’s 7th Largest Position

Pursue Wealth Partners LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 36.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,342 shares of the information services provider’s stock after acquiring an additional 8,905 shares during the period. Alphabet makes up 3.4% of Pursue Wealth Partners LLC’s investment portfolio, making the stock its 7th largest position. Pursue Wealth Partners LLC’s holdings in Alphabet were worth $5,915,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IFS Advisors LLC increased its holdings in shares of Alphabet by 400.0% during the 2nd 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 last quarter. Robbins Farley grew its holdings in shares of Alphabet by 60.0% during the 2nd 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 increased its position 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 purchasing an additional 61 shares in the last quarter. University of Illinois Foundation acquired a new position in Alphabet during the second quarter valued at approximately $31,000. Finally, Fairman Group LLC grew its stake in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after buying an additional 97 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 227,850 shares of company stock valued at $58,874,814. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. HSBC restated a “buy” rating and set a $335.00 target price on shares of Alphabet in a report on Thursday, October 30th. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Cantor Fitzgerald set a $310.00 target price on Alphabet and gave the company a “neutral” rating in a report on Thursday, October 30th. BMO Capital Markets restated an “outperform” rating and issued a $340.00 price target on shares of Alphabet in a report on Thursday, October 30th. Finally, Mizuho set a $325.00 price objective 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-eight have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Alphabet currently has an average rating of “Buy” and a consensus target price of $304.62.

Alphabet Stock Down 0.1%

NASDAQ:GOOG opened at $319.95 on Friday. The stock has a 50-day simple moving average of $269.82 and a 200 day simple moving average of $219.56. Alphabet Inc. has a one year low of $142.66 and a one year high of $328.67. The company has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 31.55, a price-to-earnings-growth 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 (NASDAQ:GOOG) last issued its earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same quarter last year, the firm earned $2.12 EPS. The business’s revenue was up 15.9% on a year-over-year basis. Sell-side analysts predict that Alphabet Inc. will post 8.89 EPS 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 paid a $0.21 dividend. 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 dividend payout ratio (DPR) is presently 8.28%.

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.