Greenwood Gearhart Inc. Purchases 2,273 Shares of Alphabet Inc. $GOOG

Greenwood Gearhart Inc. increased its position in Alphabet Inc. (NASDAQ:GOOG) by 1.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,194 shares of the information services provider’s stock after buying an additional 2,273 shares during the quarter. Alphabet accounts for 1.9% of Greenwood Gearhart Inc.’s portfolio, making the stock its 21st largest position. Greenwood Gearhart Inc.’s holdings in Alphabet were worth $30,722,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. PDS Planning Inc lifted its position in Alphabet by 21.3% in the second quarter. PDS Planning Inc now owns 44,559 shares of the information services provider’s stock valued at $7,904,000 after purchasing an additional 7,831 shares during the last quarter. Cascade Investment Group Inc. lifted its position in Alphabet by 3.1% in the second quarter. Cascade Investment Group Inc. now owns 7,646 shares of the information services provider’s stock valued at $1,356,000 after purchasing an additional 229 shares during the last quarter. L. Roy Papp & Associates LLP lifted its position in Alphabet by 1.4% in the second quarter. L. Roy Papp & Associates LLP now owns 174,856 shares of the information services provider’s stock valued at $31,018,000 after purchasing an additional 2,396 shares during the last quarter. Antonelli Financial Advisors LLC lifted its position in Alphabet by 1.9% in the second quarter. Antonelli Financial Advisors LLC now owns 19,157 shares of the information services provider’s stock valued at $3,398,000 after purchasing an additional 350 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its position in Alphabet by 1.3% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 64,852 shares of the information services provider’s stock valued at $11,504,000 after purchasing an additional 835 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, Director Frances Arnold sold 103 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares in the company, valued at approximately $1,425,799.04. The trade was a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,338 shares of company stock valued at $59,062,683 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on GOOG shares. BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Mizuho upgraded Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Finally, Pivotal Research upped their target price on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $241.00.

Alphabet Price Performance

Shares of GOOG stock opened at $244.64 on Tuesday. The stock has a market cap of $2.96 trillion, a price-to-earnings ratio of 26.05, a PEG ratio of 1.60 and a beta of 1.00. The business’s fifty day moving average is $227.94 and its 200 day moving average is $190.61. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.89 earnings per share. Research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

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.