Paradigm Asset Management Co. LLC Has $875,000 Stock Holdings in Alphabet Inc. $GOOG

Paradigm Asset Management Co. LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 39.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,930 shares of the information services provider’s stock after buying an additional 1,400 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Alphabet were worth $875,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. RDA Financial Network increased its position in Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after buying an additional 554 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Alphabet by 1.4% during the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after acquiring an additional 2,304 shares in the last quarter. Oldfather Financial Services LLC acquired a new position in shares of Alphabet during the 2nd quarter valued at about $213,000. Tower View Wealth Management LLC raised its stake in shares of Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after acquiring an additional 1,776 shares in the last quarter. Finally, Dock Street Asset Management Inc. lifted its holdings in Alphabet by 0.8% in the 2nd 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. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GOOG shares. Bank of America increased their price target on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Robert W. Baird upped their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Finally, Cowen restated a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction 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 approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total value of $269,342.82. Following the completion of the transaction, the chief accounting officer directly owned 14,517 shares of the company’s stock, valued at approximately $4,098,584.61. This trade represents a 6.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 222,396 shares of company stock valued at $54,105,275 in the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOG opened at $279.70 on Friday. The company’s fifty day moving average is $251.81 and its two-hundred day moving average is $205.49. 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 current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $3.38 trillion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter last year, the company earned $2.12 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 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.