Sanders Morris Harris LLC Has $4.84 Million Position in Alphabet Inc. $GOOG

Sanders Morris Harris LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1,183.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 19,857 shares of the information services provider’s stock after acquiring an additional 18,310 shares during the period. Alphabet accounts for 0.6% of Sanders Morris Harris LLC’s portfolio, making the stock its 25th largest position. Sanders Morris Harris LLC’s holdings in Alphabet were worth $4,836,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mirador Capital Partners LP lifted its stake in Alphabet by 1.0% in the third quarter. Mirador Capital Partners LP now owns 120,475 shares of the information services provider’s stock valued at $29,342,000 after buying an additional 1,182 shares during the period. Wiser Wealth Management Inc increased its stake in shares of Alphabet by 12.1% in the 3rd quarter. Wiser Wealth Management Inc now owns 1,897 shares of the information services provider’s stock valued at $462,000 after acquiring an additional 205 shares during the last quarter. ARS Wealth Advisors Group LLC raised its position in shares of Alphabet by 0.4% in the 3rd quarter. ARS Wealth Advisors Group LLC now owns 132,107 shares of the information services provider’s stock valued at $32,175,000 after acquiring an additional 576 shares during the period. Keb Asset Management LLC boosted its stake in Alphabet by 70.6% during the 3rd quarter. Keb Asset Management LLC now owns 3,406 shares of the information services provider’s stock worth $830,000 after acquiring an additional 1,410 shares during the last quarter. Finally, Beacon Financial Strategies CORP acquired a new position in Alphabet during the third quarter valued at approximately $214,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $298.06 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a 50-day moving average of $287.17 and a 200-day moving average of $233.11. The company has a market cap of $3.60 trillion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. Alphabet Inc. has a one year low of $142.66 and a one year high of $328.67.

Alphabet (NASDAQ:GOOG) last announced 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 net margin of 32.23% and a return on equity of 35.00%. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter in the previous year, the firm posted $2.12 EPS. Alphabet’s revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was 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%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GOOG. Barclays lifted their price target on shares of Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Mizuho set a $325.00 target price on Alphabet in a report on Thursday, October 30th. Sanford C. Bernstein boosted their target price on Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Bank of America raised their price target on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, DA Davidson set a $300.00 price objective on Alphabet in a report on Tuesday, November 25th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $313.04.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 228,906 shares of company stock valued at $63,984,117 in the last three months. Corporate insiders own 12.99% of the company’s stock.

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.