Senvest Management LLC Buys Shares of 10,000 Alphabet Inc. $GOOG

Senvest Management LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,000 shares of the information services provider’s stock, valued at approximately $1,774,000.

Several other large investors also recently made changes to their positions in GOOG. Vanguard Group Inc. boosted its holdings in Alphabet by 1.3% during the second quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock worth $73,927,821,000 after purchasing an additional 5,182,111 shares during the last quarter. Kingstone Capital Partners Texas LLC increased its holdings in Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after buying an additional 135,064,454 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Alphabet by 0.4% in the second quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock valued at $19,022,926,000 after buying an additional 441,177 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the period. Finally, Sanders Capital LLC increased its holdings in shares of Alphabet by 6.4% during the 2nd quarter. Sanders Capital LLC now owns 35,357,943 shares of the information services provider’s stock worth $6,272,146,000 after acquiring an additional 2,117,990 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GOOG shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $340.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Cantor Fitzgerald set a $310.00 price target on Alphabet and gave the stock a “neutral” rating in a report on Thursday, October 30th. Jefferies Financial Group increased their target price on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Morgan Stanley upped their price target on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Finally, Piper Sandler boosted their target price on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Six research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Stock Up 3.1%

Alphabet stock opened at $285.60 on Tuesday. The stock has a market cap of $3.45 trillion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm’s 50-day simple moving average is $258.86 and its 200 day simple moving average is $211.03. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $294.52.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, October 30th. 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 business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter in the previous year, the firm earned $2.12 earnings per share. The business’s revenue was up 15.9% on a year-over-year basis. Research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the sale, the chief executive officer owned 2,337,119 shares of the company’s stock, valued at approximately $662,526,494.12. This represents a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the sale, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 222,396 shares of company stock valued at $54,151,037. 12.99% of the stock is owned by corporate insiders.

About Alphabet

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.