Concurrent Investment Advisors LLC Acquires 8,116 Shares of Alphabet Inc. $GOOG

Concurrent Investment Advisors LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 140,320 shares of the information services provider’s stock after acquiring an additional 8,116 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Alphabet were worth $24,891,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. MorganRosel Wealth Management LLC bought a new position in Alphabet in the first quarter worth $26,000. IFS Advisors LLC boosted its stake in Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after buying an additional 120 shares in the last quarter. Robbins Farley boosted its stake in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares in the last quarter. WestEnd Advisors LLC boosted its stake in Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares in the last quarter. Finally, Goodman Advisory Group LLC acquired a new stake in Alphabet during the first quarter worth $32,000. 27.26% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the transaction, the director directly owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 953 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the transaction, the chief accounting officer directly owned 17,294 shares of the company’s stock, valued at approximately $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 244,438 shares of company stock worth $53,216,085. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on GOOG. Oppenheimer reiterated an “outperform” rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Mizuho upgraded shares of Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Pivotal Research lifted their price target on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Finally, Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $241.00.

Alphabet Stock Up 2.2%

Shares of NASDAQ GOOG opened at $251.71 on Thursday. The stock has a market cap of $3.04 trillion, a PE ratio of 26.81, a PEG ratio of 1.66 and a beta of 1.00. The business has a fifty day moving average of $230.06 and a two-hundred day moving average of $191.42. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during 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 was up 13.8% on a year-over-year basis. During the same period last year, the business earned $1.89 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 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.