Goodman Advisory Group LLC Acquires 61 Shares of Alphabet Inc. (NASDAQ:GOOG)

Goodman Advisory Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,674 shares of the information services provider’s stock after buying an additional 61 shares during the quarter. Goodman Advisory Group LLC’s holdings in Alphabet were worth $447,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. Greenwood Gearhart Inc. lifted its position in Alphabet by 8.8% in the 3rd quarter. Greenwood Gearhart Inc. now owns 158,741 shares of the information services provider’s stock valued at $26,541,000 after acquiring an additional 12,858 shares in the last quarter. Valued Retirements Inc. bought a new position in shares of Alphabet during the third quarter worth about $230,000. Prestige Wealth Management Group LLC raised its position in Alphabet by 42.8% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 1,294 shares of the information services provider’s stock valued at $216,000 after buying an additional 388 shares during the last quarter. Brophy Wealth Management LLC acquired a new position in Alphabet during the 3rd quarter worth approximately $612,000. Finally, Conway Capital Management Inc. acquired a new position in Alphabet during the 3rd quarter worth approximately $6,280,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 0.5 %

GOOG opened at $177.10 on Tuesday. The stock has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 23.49, a P/E/G ratio of 1.23 and a beta of 1.02. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $131.06 and a twelve month high of $193.31. The company has a 50-day simple moving average of $171.26 and a 200 day simple moving average of $171.73.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the firm posted $1.55 earnings per share. Analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 16,802 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the transaction, the insider now directly owns 43,999 shares in the company, valued at $7,280,514.53. This trade represents a 27.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the sale, the director now owns 28,524 shares in the company, valued at $4,385,565. The trade was a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 160,789 shares of company stock worth $27,374,143 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GOOG shares. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. UBS Group lifted their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Oppenheimer upped their target price on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Citigroup upped their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Company 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.