Alphabet Inc. $GOOG Stake Boosted by Pegasus Asset Management Inc.

Pegasus Asset Management Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the second quarter, Holdings Channel.com reports. The firm owned 60,101 shares of the information services provider’s stock after buying an additional 316 shares during the period. Alphabet accounts for about 3.7% of Pegasus Asset Management Inc.’s portfolio, making the stock its 7th largest position. Pegasus Asset Management Inc.’s holdings in Alphabet were worth $10,661,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Kingstone Capital Partners Texas LLC grew its position in shares of Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after buying an additional 135,064,454 shares during the last quarter. Nuveen LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $2,622,943,000. Vanguard Group Inc. grew its position in shares of Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after buying an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Alphabet in the 1st quarter worth approximately $369,713,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent analyst reports. Cowen reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, October 8th. Mizuho upgraded Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. Raymond James Financial restated an “outperform” rating and set a $210.00 price target (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Scotiabank restated an “outperform” rating and set a $310.00 price target on shares of Alphabet in a research report on Thursday. Finally, Barclays restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $244.68.

Alphabet Trading Up 0.1%

Alphabet stock opened at $251.88 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $231.15 and its two-hundred day simple moving average is $192.08. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $257.58. The company has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the company posted $1.89 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued 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 payout ratio is 8.95%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the transaction, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 953 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the transaction, the chief accounting officer directly owned 17,294 shares in the company, valued at approximately $4,171,312.80. The trade was 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 sold 210,872 shares of company stock valued at $46,980,865. Company insiders own 12.99% of the company’s stock.

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.