Alphabet Inc. $GOOG Shares Bought by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 38.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,403 shares of the information services provider’s stock after purchasing an additional 4,278 shares during the period. Alphabet comprises 1.3% of Cary Street Partners Investment Advisory LLC’s portfolio, making the stock its 10th largest position. Cary Street Partners Investment Advisory LLC’s holdings in Alphabet were worth $2,732,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. IFS Advisors LLC grew its stake in Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley boosted its stake in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the last quarter. WestEnd Advisors LLC boosted its stake in shares of Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares during the last quarter. Fairman Group LLC grew its position in shares of Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after buying an additional 97 shares in the last quarter. Finally, University of Illinois Foundation acquired a new stake in Alphabet in the second quarter valued at $31,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 1.2%

NASDAQ:GOOG opened at $322.09 on Friday. The firm has a market capitalization of $3.89 trillion, a P/E ratio of 31.76, a P/E/G ratio of 1.86 and a beta of 1.07. The business has a 50 day simple moving average of $276.73 and a 200 day simple moving average of $225.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $328.67.

Alphabet (NASDAQ:GOOG) last posted 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 35.00% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same period last year, the business posted $2.12 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid 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 of this dividend is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 228,906 shares of company stock worth $62,127,158. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. TD Cowen boosted their price objective on Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Citigroup reiterated a “market outperform” rating on shares of Alphabet in a research report on Monday, November 24th. Finally, Wolfe Research upped their price target on Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $310.54.

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.