Panoramic Capital Partners LLC Buys 1,118 Shares of Alphabet Inc. $GOOG

Panoramic Capital Partners LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 28.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,089 shares of the information services provider’s stock after purchasing an additional 1,118 shares during the quarter. Alphabet comprises approximately 0.6% of Panoramic Capital Partners LLC’s holdings, making the stock its 17th largest holding. Panoramic Capital Partners LLC’s holdings in Alphabet were worth $919,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Robbins Farley boosted its stake in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the last quarter. Principia Wealth Advisory LLC raised its holdings in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after acquiring an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet during the 1st quarter valued at approximately $26,000. Greykasell Wealth Strategies Inc. purchased a new position in shares of Alphabet in the first quarter valued at $32,000. Finally, Goodman Advisory Group LLC bought a new stake in Alphabet in the first quarter worth $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 953 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on 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 completion of the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 276,738 shares of company stock worth $59,135,475. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on GOOG shares. Scotiabank increased their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Morgan Stanley upped their price objective on Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, UBS Group lifted their target price on Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $235.33.

Alphabet Stock Up 0.4%

Shares of NASDAQ:GOOG opened at $246.43 on Friday. The business’s 50 day moving average is $220.84 and its 200 day moving average is $186.43. The stock has a market cap of $2.98 trillion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.89 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

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.