von Borstel & Associates Inc. Invests $610,000 in Alphabet Inc. $GOOG

von Borstel & Associates Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOGFree Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,506 shares of the information services provider’s stock, valued at approximately $610,000.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Alphabet in the second quarter worth $4,298,572,000. JPMorgan Chase & Co. grew its position in Alphabet by 8.6% during the third quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock worth $24,240,469,000 after buying an additional 7,904,434 shares in the last quarter. Vanguard Group Inc. increased its stake in Alphabet by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock worth $73,927,821,000 after acquiring an additional 5,182,111 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Alphabet by 73.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 9,808,152 shares of the information services provider’s stock valued at $2,388,775,000 after acquiring an additional 4,154,929 shares in the last quarter. Finally, Laurel Wealth Advisors LLC raised its holdings in shares of Alphabet by 17,547.9% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 4,122,727 shares of the information services provider’s stock valued at $731,331,000 after acquiring an additional 4,099,366 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 112 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $302.99, for a total value of $33,934.88. Following the completion of the sale, the director directly owned 18,418 shares of the company’s stock, valued at $5,580,469.82. The trade was a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $303.38, for a total transaction of $9,859,850.00. Following the sale, the chief executive officer owned 1,674,560 shares of the company’s stock, valued at approximately $508,028,012.80. The trade was a 1.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,112,493 shares of company stock worth $118,605,094 in the last ninety days. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $301.46 on Friday. The firm has a market capitalization of $3.65 trillion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $350.15. The business’s 50-day moving average price is $319.36 and its 200-day moving average price is $289.75.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its earnings results on Thursday, February 5th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.23. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The business had revenue of $113.83 billion during the quarter, compared to analyst estimates of $111.24 billion. During the same quarter in the prior year, the firm earned $2.15 earnings per share. Alphabet’s revenue for the quarter was up 18.0% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is 7.77%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $370.00 price objective on shares of Alphabet in a report on Tuesday, January 20th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $400.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Raymond James Financial upgraded shares of Alphabet from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $315.00 to $400.00 in a research report on Thursday, January 22nd. Sanford C. Bernstein reissued a “market perform” rating and issued a $345.00 price target on shares of Alphabet in a research note on Thursday, February 5th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Alphabet in a report on Tuesday, January 20th. Nine research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $345.71.

Check Out Our Latest Stock Report on GOOG

Alphabet Profile

(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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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