STF Management LP Purchases 940 Shares of Alphabet Inc. $GOOG

STF Management LP increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,395 shares of the information services provider’s stock after acquiring an additional 940 shares during the quarter. Alphabet comprises about 2.3% of STF Management LP’s investment portfolio, making the stock its 11th largest position. STF Management LP’s holdings in Alphabet were worth $5,924,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cascade Financial Partners LLC increased its position in Alphabet by 8.7% in the second quarter. Cascade Financial Partners LLC now owns 17,495 shares of the information services provider’s stock worth $3,103,000 after purchasing an additional 1,400 shares during the period. Boston Partners lifted its position in Alphabet by 239.7% during the 2nd quarter. Boston Partners now owns 63,128 shares of the information services provider’s stock valued at $11,198,000 after purchasing an additional 44,546 shares during the period. Clarity Wealth Advisors LLC boosted its stake in shares of Alphabet by 1.7% in the 2nd quarter. Clarity Wealth Advisors LLC now owns 32,659 shares of the information services provider’s stock valued at $5,793,000 after purchasing an additional 551 shares during the last quarter. Cvfg LLC grew its position in shares of Alphabet by 3.5% during the 2nd quarter. Cvfg LLC now owns 3,259 shares of the information services provider’s stock worth $578,000 after buying an additional 111 shares during the period. Finally, Weil Company Inc. grew its position in shares of Alphabet by 1.2% during the 2nd quarter. Weil Company Inc. now owns 8,929 shares of the information services provider’s stock worth $1,584,000 after buying an additional 110 shares during the period. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. UBS Group restated a “neutral” rating on shares of Alphabet in a report on Thursday, October 30th. Jefferies Financial Group upped their target price on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Rosenblatt Securities set a $279.00 price target on Alphabet in a research report on Thursday, October 30th. Robert W. Baird lifted their price objective on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Finally, Piper Sandler upped their price objective on Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Six 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 assigned a Sell rating to the company. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Price Performance

GOOG opened at $291.74 on Wednesday. The stock has a market cap of $3.53 trillion, a P/E ratio of 28.77, a P/E/G 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 $292.34. 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 company has a fifty day simple moving average of $254.94 and a 200 day simple moving average of $207.64.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share 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 firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same period in the previous year, the company posted $2.12 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. 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 8.28%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 221,796 shares of company stock worth $53,983,001. 12.99% of the stock is 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.