Alphabet Inc. $GOOG Position Boosted by Sfmg LLC

Sfmg LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,310 shares of the information services provider’s stock after acquiring an additional 1,014 shares during the period. Alphabet makes up 1.0% of Sfmg LLC’s holdings, making the stock its 16th largest position. Sfmg LLC’s holdings in Alphabet were worth $13,182,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GOOG. Evelyn Partners Asset Management Ltd increased its stake in Alphabet by 4,395.8% during the 2nd quarter. Evelyn Partners Asset Management Ltd now owns 3,237 shares of the information services provider’s stock valued at $574,000 after buying an additional 3,165 shares during the period. Cooper Haims Advisors LLC boosted its holdings in shares of Alphabet by 8.1% in the second quarter. Cooper Haims Advisors LLC now owns 2,482 shares of the information services provider’s stock valued at $440,000 after acquiring an additional 187 shares in the last quarter. Journey Strategic Wealth LLC increased its stake in shares of Alphabet by 47.9% during the second quarter. Journey Strategic Wealth LLC now owns 42,858 shares of the information services provider’s stock valued at $7,603,000 after acquiring an additional 13,885 shares during the period. Archer Investment Corp raised its holdings in Alphabet by 28.3% during the second quarter. Archer Investment Corp now owns 2,789 shares of the information services provider’s stock worth $495,000 after purchasing an additional 615 shares in the last quarter. Finally, Watchman Group Inc. lifted its position in Alphabet by 2.7% in the second quarter. Watchman Group Inc. now owns 26,203 shares of the information services provider’s stock worth $4,648,000 after purchasing an additional 686 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $299.65 on Friday. The company has a 50-day moving average of $262.98 and a two-hundred day moving average of $213.90. The stock has a market cap of $3.62 trillion, a price-to-earnings ratio of 29.55, a PEG ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a one year low of $142.66 and a one year high of $306.89.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating 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 business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same quarter in the previous year, the business earned $2.12 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

Analyst Ratings Changes

Several brokerages have recently issued reports on GOOG. Canaccord Genuity Group reiterated a “buy” rating and set a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. TD Cowen lifted their target price on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. KeyCorp reiterated an “overweight” rating and issued a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Oppenheimer upped their price target on shares of Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, DA Davidson set a $825.00 price objective on shares of Alphabet in a research note on Monday, October 27th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the transaction, the director owned 18,004 shares in the company, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the transaction, the director directly owned 4,516 shares in the company, valued at $1,264,750.96. The trade was a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 227,952 shares of company stock worth $58,896,009 over the last three months. Company insiders own 12.99% of the company’s stock.

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.