Blue Investment Partners LLC Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Blue Investment Partners LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 150.0% in the third quarter, HoldingsChannel.com reports. The firm owned 7,750 shares of the information services provider’s stock after buying an additional 4,650 shares during the quarter. Alphabet makes up 0.5% of Blue Investment Partners LLC’s holdings, making the stock its 28th biggest holding. Blue Investment Partners LLC’s holdings in Alphabet were worth $1,296,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GOOG. Twelve Points Wealth Management LLC increased its holdings in shares of Alphabet by 0.7% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after acquiring an additional 55 shares during the last quarter. PCG Wealth Advisors LLC grew its holdings in Alphabet by 3.1% during the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after purchasing an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV raised its position in shares of Alphabet by 1.6% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after purchasing an additional 57 shares during the period. Advisors Management Group Inc. ADV lifted its stake in shares of Alphabet by 2.0% in the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after buying an additional 58 shares during the last quarter. Finally, Shira Ridge Wealth Management boosted its holdings in shares of Alphabet by 0.4% during the 2nd quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock worth $2,841,000 after buying an additional 60 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GOOG. Pivotal Research boosted their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Citigroup raised their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group raised their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Stock Up 1.7 %

Shares of GOOG opened at $169.43 on Tuesday. The business’s 50 day simple moving average is $169.30 and its 200-day simple moving average is $171.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The company has a market capitalization of $2.07 trillion, a P/E ratio of 22.47, a PEG ratio of 1.16 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the previous year, the firm posted $1.55 earnings per share. The company’s revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the sale, the insider now owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This represents a 35.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the transaction, the chief executive officer now directly owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock valued at $34,673,866 over the last ninety days. Insiders own 12.99% of the company’s stock.

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.