Mutual Advisors LLC Raises Stock Holdings in Alphabet Inc. $GOOG

Mutual Advisors LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 11.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,271 shares of the information services provider’s stock after purchasing an additional 13,052 shares during the period. Alphabet accounts for 0.6% of Mutual Advisors LLC’s portfolio, making the stock its 22nd biggest position. Mutual Advisors LLC’s holdings in Alphabet were worth $25,283,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Brighton Jones LLC grew its stake in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares during the period. Revisor Wealth Management LLC grew its stake in shares of Alphabet by 107.9% in the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock worth $572,000 after acquiring an additional 1,899 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Alphabet by 19.5% in the first quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider’s stock worth $14,323,000 after acquiring an additional 14,931 shares during the last quarter. Spirit of America Management Corp NY grew its stake in shares of Alphabet by 10.9% in the first quarter. Spirit of America Management Corp NY now owns 3,050 shares of the information services provider’s stock worth $477,000 after acquiring an additional 300 shares during the last quarter. Finally, Meriwether Wealth & Planning LLC grew its stake in shares of Alphabet by 7.2% in the first quarter. Meriwether Wealth & Planning LLC now owns 12,100 shares of the information services provider’s stock worth $1,890,000 after acquiring an additional 809 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,372 shares of company stock worth $55,110,740 in the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.8%

Alphabet stock opened at $253.79 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a one year low of $142.66 and a one year high of $257.58. The stock has a market capitalization of $3.07 trillion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. The business’s fifty day moving average is $232.18 and its 200 day moving average is $192.97.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating 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 company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period last year, the firm posted $1.89 earnings per share. Alphabet’s revenue was up 13.8% compared to the same quarter last year. On average, sell-side analysts predict 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 issued a $0.21 dividend. 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%.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent research reports. Oppenheimer reissued an “outperform” rating and issued a $270.00 target price (up from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Scotiabank reissued an “outperform” rating and issued a $310.00 target price on shares of Alphabet in a research note on Thursday. Pivotal Research increased their target price on Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Robert W. Baird increased their target price on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Finally, Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $244.68.

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.