Goodman Advisory Group LLC Boosts Stake in Alphabet Inc. $GOOG

Goodman Advisory Group LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 911.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,103 shares of the information services provider’s stock after purchasing an additional 1,895 shares during the period. Goodman Advisory Group LLC’s holdings in Alphabet were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its position in shares of Alphabet by 4.0% during the first quarter. Nicholas Hoffman & Company LLC. now owns 25,146 shares of the information services provider’s stock worth $3,929,000 after buying an additional 976 shares during the period. Boston Partners grew its stake in shares of Alphabet by 7.5% in the first quarter. Boston Partners now owns 18,582 shares of the information services provider’s stock valued at $2,903,000 after buying an additional 1,292 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its holdings in shares of Alphabet by 49.0% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 23,889 shares of the information services provider’s stock valued at $3,732,000 after buying an additional 7,856 shares during the period. Finally, Fox Run Management L.L.C. raised its holdings in shares of Alphabet by 31.4% in the 1st quarter. Fox Run Management L.L.C. now owns 4,961 shares of the information services provider’s stock valued at $775,000 after buying an additional 1,185 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company’s 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 completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 228,906 shares of company stock worth $62,127,158. 12.99% of the stock is currently owned by insiders.

Alphabet Trading Down 1.0%

NASDAQ GOOG opened at $310.52 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $328.67. The firm has a 50 day moving average of $283.75 and a two-hundred day moving average of $230.33. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $3.75 trillion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 1.80 and a beta of 1.07.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.12 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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 given 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 of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several research reports. Oppenheimer lifted their target price on Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Robert W. Baird lifted their price objective on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. BNP Paribas began coverage on shares of Alphabet in a research report on Monday, November 24th. They issued an “outperform” rating for the company. Finally, Citigroup restated a “market outperform” rating on shares of Alphabet in a research note on Monday, November 24th. Seven analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average target price of $313.04.

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.