One Degree Advisors Inc Grows Stake in Alphabet Inc. $GOOG

One Degree Advisors Inc raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 39.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,438 shares of the information services provider’s stock after acquiring an additional 1,548 shares during the period. One Degree Advisors Inc’s holdings in Alphabet were worth $964,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Applied Capital LLC FL grew its stake in shares of Alphabet by 0.9% in the second quarter. Applied Capital LLC FL now owns 25,527 shares of the information services provider’s stock worth $4,528,000 after acquiring an additional 234 shares during the last quarter. JNBA Financial Advisors boosted its position in shares of Alphabet by 2.9% during the second quarter. JNBA Financial Advisors now owns 10,606 shares of the information services provider’s stock valued at $1,881,000 after buying an additional 300 shares during the last quarter. SLT Holdings LLC boosted its position in shares of Alphabet by 14.9% during the second quarter. SLT Holdings LLC now owns 4,164 shares of the information services provider’s stock valued at $739,000 after buying an additional 539 shares during the last quarter. Von Berge Wealth Management Group LLC purchased a new stake in shares of Alphabet during the second quarter valued at $229,000. Finally, Aberdeen Group plc boosted its position in shares of Alphabet by 2.7% during the second quarter. Aberdeen Group plc now owns 6,793,637 shares of the information services provider’s stock valued at $1,205,123,000 after buying an additional 176,604 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.6%

Shares of NASDAQ:GOOG opened at $246.19 on Wednesday. The stock has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 26.22, a PEG ratio of 1.65 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock’s 50-day simple moving average is $228.96 and its two-hundred day simple moving average is $191.00. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. The business 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 business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period last year, the firm posted $1.89 earnings per share. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given 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 (DPR) is presently 8.95%.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 243,838 shares of company stock worth $53,070,333 over the last ninety days. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on GOOG shares. UBS Group set a $255.00 price objective on Alphabet and gave the company a “neutral” rating in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. BNP Paribas cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Finally, Cowen reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $241.00.

About Alphabet

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.