Alphabet Inc. $GOOG Shares Bought by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 182,722 shares of the information services provider’s stock after buying an additional 3,607 shares during the period. Beacon Pointe Advisors LLC’s holdings in Alphabet were worth $32,413,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. RDA Financial Network boosted its holdings in shares of Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after acquiring an additional 554 shares during the last quarter. Bleakley Financial Group LLC lifted its position in Alphabet by 1.4% during 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 purchasing an additional 2,304 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Alphabet by 3.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,164,341 shares of the information services provider’s stock valued at $206,542,000 after purchasing an additional 42,028 shares during the period. Tower View Wealth Management LLC boosted its holdings in Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after purchasing an additional 1,776 shares during the last quarter. Finally, Oldfather Financial Services LLC acquired a new stake in Alphabet during the 2nd quarter worth about $213,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 1.6%

Alphabet stock opened at $315.12 on Tuesday. The stock has a market capitalization of $3.80 trillion, a PE ratio of 31.08, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $328.67. The business has a 50 day simple moving average of $271.07 and a 200-day simple moving average of $221.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

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

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $288.26, for a total transaction of $800,786.28. Following the completion of the sale, the chief accounting officer directly owned 11,739 shares in the company, valued at approximately $3,383,884.14. The trade was a 19.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the transaction, the director directly owned 4,516 shares of the company’s stock, valued at $1,264,750.96. The trade was a 11.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 227,850 shares of company stock worth $58,874,814 over the last three months. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several analyst reports. Bank of America boosted their price objective on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Loop Capital upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Robert W. Baird boosted their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Wolfe Research raised their price objective on shares of Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Guggenheim reaffirmed a “buy” rating and set a $375.00 target price on shares of Alphabet in a report on Monday. Seven 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. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and an average target price of $307.22.

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.