J.W. Cole Advisors Inc. Has $34.78 Million Position in Alphabet Inc. $GOOG

J.W. Cole Advisors Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 66.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 196,072 shares of the information services provider’s stock after purchasing an additional 78,133 shares during the period. Alphabet accounts for about 0.7% of J.W. Cole Advisors Inc.’s portfolio, making the stock its 18th largest position. J.W. Cole Advisors Inc.’s holdings in Alphabet were worth $34,781,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Farmers National Bank lifted its position in shares of Alphabet by 14.7% during the second quarter. Farmers National Bank now owns 40,539 shares of the information services provider’s stock worth $7,191,000 after purchasing an additional 5,206 shares in the last quarter. Financial Advocates Investment Management raised its position in Alphabet by 123.2% in the 2nd quarter. Financial Advocates Investment Management now owns 17,053 shares of the information services provider’s stock worth $3,025,000 after purchasing an additional 9,414 shares during the last quarter. Resolute Wealth Strategies LLC raised its position in Alphabet by 3.2% in the 2nd quarter. Resolute Wealth Strategies LLC now owns 23,140 shares of the information services provider’s stock worth $4,105,000 after purchasing an additional 715 shares during the last quarter. Laurel Wealth Advisors LLC lifted its holdings in Alphabet by 17,547.9% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 4,122,727 shares of the information services provider’s stock worth $731,331,000 after buying an additional 4,099,366 shares in the last quarter. Finally, Spectrum Wealth Advisory Group LLC increased its stake in shares of Alphabet by 4.2% in the 2nd quarter. Spectrum Wealth Advisory Group LLC now owns 5,574 shares of the information services provider’s stock valued at $989,000 after buying an additional 224 shares during the period. 27.26% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the transaction, the chief accounting officer owned 14,516 shares of the company’s stock, valued at $3,629,725.80. The trade was a 16.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 227,952 shares of company stock valued at $58,896,009 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of GOOG opened at $318.47 on Tuesday. The stock has a market cap of $3.84 trillion, a P/E ratio of 31.41, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $319.80. The stock’s 50-day moving average price is $264.32 and its two-hundred day moving average price is $215.82. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same period in the prior year, the business posted $2.12 EPS. Alphabet’s revenue was up 15.9% on a year-over-year basis. On average, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent research reports. Pivotal Research boosted their target price on Alphabet from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Sanford C. Bernstein boosted their price objective on Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Cowen restated a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Cantor Fitzgerald set a $310.00 target price on shares of Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 30th. Finally, Loop Capital raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Buy” and an average price target of $324.81.

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.