Gilder Gagnon Howe & Co. LLC Has $72.19 Million Stake in Alphabet Inc. $GOOG

Gilder Gagnon Howe & Co. LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.6% during the second quarter, HoldingsChannel.com reports. The fund owned 406,933 shares of the information services provider’s stock after acquiring an additional 14,215 shares during the quarter. Gilder Gagnon Howe & Co. LLC’s holdings in Alphabet were worth $72,186,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. RDA Financial Network grew its stake 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 raised its stake in shares of Alphabet by 1.4% in the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after acquiring an additional 2,304 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Alphabet by 3.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,164,341 shares of the information services provider’s stock worth $206,542,000 after acquiring an additional 42,028 shares in the last quarter. Oldfather Financial Services LLC bought a new stake in Alphabet during the 2nd quarter worth approximately $213,000. Finally, Tower View Wealth Management LLC grew its position in Alphabet by 6.9% during the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after acquiring an additional 1,776 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Raymond James Financial set a $275.00 price objective on Alphabet and gave the company an “outperform” rating in a research report on Friday, October 24th. Barclays raised their target price on Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. KeyCorp reiterated an “overweight” rating and set a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Finally, UBS Group restated a “neutral” rating on shares of Alphabet in a research report on Thursday, October 30th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and a consensus price target of $313.04.

Alphabet Trading Down 1.0%

Shares of GOOG opened at $310.52 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $328.67. The firm has a market capitalization of $3.75 trillion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07. The stock’s fifty day simple moving average is $283.75 and its 200-day simple moving average is $229.94.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The company’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the company earned $2.12 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the sale, the director owned 4,516 shares in the company, valued at approximately $1,264,750.96. The trade was a 11.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 954 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $317.00, for a total value of $302,418.00. Following the completion of the transaction, the chief accounting officer directly owned 11,740 shares in the company, valued at approximately $3,721,580. This trade represents a 7.52% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 228,906 shares of company stock valued at $62,127,158. 12.99% of the stock is currently owned by corporate insiders.

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.