Thompson Davis & CO. Inc. Increases Position in Alphabet Inc. $GOOG

Thompson Davis & CO. Inc. lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 34.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,027 shares of the information services provider’s stock after purchasing an additional 780 shares during the period. Thompson Davis & CO. Inc.’s holdings in Alphabet were worth $537,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GOOG. Brighton Jones LLC increased its stake in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after buying an additional 6,410 shares during the period. Legacy Capital Wealth Partners LLC grew its stake in Alphabet by 11.4% in the 1st quarter. Legacy Capital Wealth Partners LLC now owns 4,030 shares of the information services provider’s stock worth $630,000 after acquiring an additional 411 shares in the last quarter. Litman Gregory Wealth Management LLC increased its position in shares of Alphabet by 6.2% during the first quarter. Litman Gregory Wealth Management LLC now owns 70,846 shares of the information services provider’s stock worth $11,068,000 after acquiring an additional 4,111 shares during the period. Dynasty Wealth Management LLC grew its stake in Alphabet by 1.2% in the first quarter. Dynasty Wealth Management LLC now owns 22,395 shares of the information services provider’s stock worth $3,499,000 after purchasing an additional 261 shares in the last quarter. Finally, Woodward Diversified Capital LLC increased its holdings in Alphabet by 4.1% during the 1st quarter. Woodward Diversified Capital LLC now owns 8,341 shares of the information services provider’s stock worth $1,303,000 after purchasing an additional 331 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GOOG. Bank of America increased their price target on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. KeyCorp reaffirmed an “overweight” rating and issued a $330.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Morgan Stanley increased their target price on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Canaccord Genuity Group reissued a “buy” rating and set a $330.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Six equities research 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Alphabet Stock Down 2.9%

NASDAQ:GOOG opened at $279.12 on Friday. The company’s 50-day simple moving average is $257.00 and its 200-day simple moving average is $208.69. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $292.36. The stock has a market capitalization of $3.37 trillion, a P/E ratio of 27.53, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same quarter in the previous year, the business posted $2.12 EPS. Alphabet’s revenue was up 15.9% on a year-over-year basis. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued 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 is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the transaction, the chief accounting officer directly owned 14,517 shares in the company, valued at $4,098,584.61. The trade was a 6.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the transaction, the chief executive officer directly owned 2,337,119 shares in the company, valued at $662,526,494.12. This represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 221,796 shares of company stock worth $53,983,001. 12.99% of the stock is currently 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.