OneAscent Family Office LLC Buys 1,147 Shares of Alphabet Inc. $GOOG

OneAscent Family Office LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 26.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 5,539 shares of the information services provider’s stock after purchasing an additional 1,147 shares during the quarter. Alphabet comprises about 0.9% of OneAscent Family Office LLC’s investment portfolio, making the stock its 23rd largest position. OneAscent Family Office LLC’s holdings in Alphabet were worth $983,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kingstone Capital Partners Texas LLC raised its holdings in Alphabet by 580,897.4% in the second 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 purchasing an additional 135,064,454 shares during the period. Nuveen LLC bought a new stake in shares of Alphabet in the 1st quarter valued at $2,622,943,000. Vanguard Group Inc. raised its stake in Alphabet by 2.4% during 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 period. JPMorgan Chase & Co. raised its stake in Alphabet by 9.9% during 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 period. Finally, Strs Ohio bought a new position in Alphabet during the first quarter worth about $369,713,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GOOG. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Oppenheimer boosted their price objective on Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Raymond James Financial set a $275.00 price target on shares of Alphabet and gave the company an “outperform” rating in a research note on Friday, October 24th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $330.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade 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 is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 222,396 shares of company stock worth $54,105,275 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 2.0%

NASDAQ GOOG opened at $279.70 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $291.93. 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 moving average price is $251.81 and its two-hundred day moving average price is $205.14. The stock has a market capitalization of $3.38 trillion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same period last year, the company earned $2.12 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. As a group, analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

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.