Reliant Investment Partners LLC Purchases 2,333 Shares of Alphabet Inc. $GOOG

Reliant Investment Partners LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 195.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,529 shares of the information services provider’s stock after purchasing an additional 2,333 shares during the period. Reliant Investment Partners LLC’s holdings in Alphabet were worth $870,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares during the period. Kooman & Associates boosted its stake in shares of Alphabet by 1.4% during the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after acquiring an additional 56 shares in the last quarter. MCF Advisors LLC boosted its position in Alphabet by 22.4% during the second quarter. MCF Advisors LLC now owns 6,566 shares of the information services provider’s stock worth $1,165,000 after purchasing an additional 1,201 shares in the last quarter. Hall Laurie J Trustee lifted its position in shares of Alphabet by 0.4% during the 2nd quarter. Hall Laurie J Trustee now owns 41,477 shares of the information services provider’s stock valued at $7,358,000 after buying an additional 150 shares in the last quarter. Finally, AM Investment Strategies LLC lifted its holdings in Alphabet by 4.5% during the second quarter. AM Investment Strategies LLC now owns 90,620 shares of the information services provider’s stock valued at $16,075,000 after purchasing an additional 3,886 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $288.26, for a total transaction of $800,786.28. Following the transaction, the chief accounting officer directly owned 11,739 shares in the company, valued at $3,383,884.14. This represents a 19.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $319.50, for a total value of $10,383,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,272,119 shares in the company, valued at $725,942,020.50. This trade represents a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 192,687 shares of company stock valued at $58,728,068 over the last three months. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $330.84 on Friday. The stock has a fifty day moving average price of $315.30 and a 200 day moving average price of $259.15. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $341.20. 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 company has a market cap of $3.99 trillion, a PE ratio of 32.63, a P/E/G ratio of 1.81 and a beta of 1.09.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.12 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed 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. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, December 8th. Alphabet’s payout ratio is currently 8.28%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent research reports. Oppenheimer lifted their target price on shares of Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Wolfe Research increased their price objective on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. Mizuho set a $325.00 price objective on Alphabet in a research note on Thursday, October 30th. Finally, DA Davidson set a $300.00 price objective on shares of Alphabet in a report on Tuesday, November 25th. Eight analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average target price of $326.13.

View Our Latest Stock Analysis on GOOG

Key Headlines Impacting Alphabet

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About Alphabet

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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