Beck Capital Management LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Beck Capital Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.4% during the third quarter, Holdings Channel.com reports. The firm owned 29,500 shares of the information services provider’s stock after acquiring an additional 3,253 shares during the period. Alphabet accounts for about 1.3% of Beck Capital Management LLC’s portfolio, making the stock its 21st largest position. Beck Capital Management LLC’s holdings in Alphabet were worth $4,932,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. FMR LLC grew its position in Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after acquiring an additional 5,655,022 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Alphabet by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after purchasing an additional 3,113,395 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Alphabet by 9.1% in the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after purchasing an additional 1,291,274 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Alphabet by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock valued at $2,688,743,000 after purchasing an additional 636,008 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Alphabet by 2.3% during the 2nd quarter. American Century Companies Inc. now owns 12,327,458 shares of the information services provider’s stock valued at $2,261,103,000 after buying an additional 282,121 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 0.2 %

NASDAQ:GOOG opened at $170.49 on Monday. The firm has a 50-day simple moving average of $169.98 and a 200-day simple moving average of $171.82. The firm has a market cap of $2.09 trillion, a P/E ratio of 22.61, a P/E/G ratio of 1.19 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS 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 analysts’ expectations of $86.39 billion. During the same period last year, the business earned $1.55 EPS. Alphabet’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 206,795 shares of company stock valued at $34,673,866. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of analyst reports. Scotiabank began coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. UBS Group boosted their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Citigroup increased their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Barclays boosted their price objective on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

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.