Southeast Asset Advisors LLC Has $78.79 Million Position in Alphabet Inc. $GOOG

Southeast Asset Advisors LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 444,183 shares of the information services provider’s stock after purchasing an additional 1,009 shares during the period. Alphabet accounts for approximately 9.4% of Southeast Asset Advisors LLC’s portfolio, making the stock its 3rd largest position. Southeast Asset Advisors LLC’s holdings in Alphabet were worth $78,794,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GOOG. RDA Financial Network boosted its position in shares of Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after purchasing an additional 554 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in Alphabet by 1.4% in the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after buying an additional 2,304 shares during the period. Oldfather Financial Services LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $213,000. Tower View Wealth Management LLC increased its stake in shares of Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after acquiring an additional 1,776 shares in the last quarter. Finally, Dock Street Asset Management Inc. lifted its position in shares of Alphabet by 0.8% during the 2nd quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after acquiring an additional 1,970 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 6.3%

Shares of Alphabet stock opened at $318.47 on Tuesday. The company’s 50-day moving average price is $264.32 and its 200-day moving average price is $215.82. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $319.80. The company has a market cap of $3.84 trillion, a price-to-earnings ratio of 31.41, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping 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 prior year, the firm posted $2.12 EPS. Alphabet’s revenue was up 15.9% on a year-over-year basis. On average, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Analyst Upgrades and Downgrades

A number of research firms have commented on GOOG. BNP Paribas began coverage on shares of Alphabet in a research note on Monday. They issued an “outperform” rating for the company. Mizuho set a $325.00 price target on shares of Alphabet in a research report on Thursday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $340.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Raymond James Financial set a $275.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a research report on Friday, October 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $324.81.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 112 shares of the company’s stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $296.64, for a total value of $9,640,800.00. Following the sale, the chief executive officer owned 2,304,619 shares in the company, valued at $683,642,180.16. The trade was a 1.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 227,952 shares of company stock valued at $58,896,009. Company insiders own 12.99% of the company’s stock.

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.