Lipe & Dalton Has $9.87 Million Stake in Alphabet Inc. $GOOG

Lipe & Dalton lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,616 shares of the information services provider’s stock after selling 1,450 shares during the period. Alphabet comprises approximately 5.3% of Lipe & Dalton’s investment portfolio, making the stock its 3rd biggest holding. Lipe & Dalton’s holdings in Alphabet were worth $9,866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. RDA Financial Network grew its holdings in Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after purchasing an additional 554 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in Alphabet by 1.4% in the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after purchasing an additional 2,304 shares during the last quarter. Oldfather Financial Services LLC purchased a new position in Alphabet in the second quarter worth $213,000. Tower View Wealth Management LLC grew its holdings in Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after purchasing an additional 1,776 shares during the last quarter. Finally, Dock Street Asset Management Inc. grew its holdings in Alphabet by 0.8% in the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after purchasing an additional 1,970 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 246,150 shares of company stock valued at $55,805,379 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of GOOG opened at $275.17 on Thursday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $275.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $3.33 trillion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 1.81 and a beta of 1.00. The company’s fifty day moving average price is $241.46 and its 200-day moving average price is $199.27.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. During the same period last year, the business earned $2.12 EPS. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. KeyCorp set a $265.00 price target on shares of Alphabet in a report on Wednesday, September 3rd. Scotiabank reissued an “outperform” rating and set a $310.00 price objective on shares of Alphabet in a report on Thursday, October 16th. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Mizuho raised shares of Alphabet to a “strong-buy” rating in a report on Monday, September 29th. Finally, Pivotal Research boosted their price objective on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Five investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $297.56.

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.