Tobam Buys 2,149 Shares of Alphabet Inc. $GOOGL

Tobam grew its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 9.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,884 shares of the information services provider’s stock after purchasing an additional 2,149 shares during the period. Alphabet comprises approximately 2.3% of Tobam’s holdings, making the stock its 13th biggest holding. Tobam’s holdings in Alphabet were worth $6,292,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in GOOGL. Financial Gravity Companies Inc. bought a new stake in Alphabet during the second quarter worth about $31,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Alphabet in the third quarter valued at approximately $53,000. Corsicana & Co. acquired a new position in shares of Alphabet in the 3rd quarter worth approximately $54,000. Vermillion & White Wealth Management Group LLC grew its position in Alphabet by 37.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock worth $57,000 after acquiring an additional 89 shares during the last quarter. Finally, S&T Bank PA increased its holdings in Alphabet by 40.2% during the 2nd quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after purchasing an additional 99 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $311.76 on Monday. The company has a fifty day moving average price of $320.99 and a two-hundred day moving average price of $283.34. The firm has a market capitalization of $3.77 trillion, a PE ratio of 28.84, a P/E/G ratio of 1.83 and a beta of 1.09. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $349.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.25. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The business had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is 7.77%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 933 shares of Alphabet stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $336.55, for a total transaction of $314,001.15. Following the transaction, the chief accounting officer owned 9,916 shares of the company’s stock, valued at $3,337,229.80. This trade represents a 8.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $306.73, for a total transaction of $184,038.00. Following the completion of the sale, the director directly owned 20,624 shares of the company’s stock, valued at $6,325,999.52. The trade was a 2.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,112,380 shares of company stock worth $119,112,888 over the last ninety days. Company insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent analyst reports. BNP Paribas Exane initiated coverage on Alphabet in a research note on Monday, November 24th. They issued an “outperform” rating and a $355.00 price objective on the stock. Pivotal Research upped their price target on shares of Alphabet from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Mizuho increased their price objective on shares of Alphabet from $400.00 to $410.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Wedbush upped their target price on shares of Alphabet from $360.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Finally, President Capital increased their price target on shares of Alphabet from $323.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Three research analysts have rated the stock with a Strong Buy rating, forty-three have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $366.57.

Read Our Latest Stock Report on Alphabet

Alphabet Company Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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