BLVD Private Wealth LLC Acquires New Shares in Alphabet Inc. $GOOG

BLVD Private Wealth LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,981 shares of the information services provider’s stock, valued at approximately $529,000.

A number of other large investors have also recently made changes to their positions in GOOG. Brighton Jones LLC increased its holdings in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares during the period. Nicholas Hoffman & Company LLC. increased its holdings in shares of Alphabet by 4.0% in the first quarter. Nicholas Hoffman & Company LLC. now owns 25,146 shares of the information services provider’s stock worth $3,929,000 after purchasing an additional 976 shares during the period. Boston Partners raised its position 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 worth $2,903,000 after buying an additional 1,292 shares in the last quarter. Ethos Financial Group LLC boosted its stake in Alphabet by 53.9% during the first quarter. Ethos Financial Group LLC now owns 11,238 shares of the information services provider’s stock valued at $1,756,000 after buying an additional 3,938 shares during the period. Finally, Seven Mile Advisory grew its position in Alphabet by 2.0% during the first quarter. Seven Mile Advisory now owns 16,043 shares of the information services provider’s stock worth $2,506,000 after buying an additional 311 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Pivotal Research reissued a “buy” rating and issued a $400.00 price target (up previously from $350.00) on shares of Alphabet in a research note on Friday, December 5th. Jefferies Financial Group raised their price objective on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, November 7th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $313.04.

Alphabet Trading Down 1.0%

NASDAQ GOOG opened at $310.52 on Monday. The firm has a market cap 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 Inc. has a 1-year low of $142.66 and a 1-year high of $328.67. The stock has a 50-day moving average of $283.75 and a 200-day moving average of $230.73. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping 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 business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same period in the previous year, the firm earned $2.12 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts forecast 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. Investors of record on Monday, December 8th will be paid a $0.21 dividend. 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 payout ratio is presently 8.28%.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $319.50, for a total transaction of $10,383,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,272,119 shares of the company’s stock, valued at approximately $725,942,020.50. This represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 102 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $317.66, for a total transaction of $32,401.32. Following the sale, the director owned 18,104 shares of the company’s stock, valued at approximately $5,750,916.64. This represents a 0.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 225,528 shares of company stock valued at $61,296,884. 12.99% of the stock is owned by corporate insiders.

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.