2,518 Shares in Alphabet Inc. $GOOG Bought by SKY Mountain Capital Management Inc.

SKY Mountain Capital Management Inc. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 2,518 shares of the information services provider’s stock, valued at approximately $636,000. Alphabet accounts for approximately 0.4% of SKY Mountain Capital Management Inc.’s portfolio, making the stock its 21st largest holding.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Alphabet in the 2nd quarter valued at approximately $4,298,572,000. Vanguard Group Inc. lifted its position in shares of Alphabet by 1.3% in the second quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock worth $73,927,821,000 after purchasing an additional 5,182,111 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Alphabet by 73.5% in the third quarter. Assenagon Asset Management S.A. now owns 9,808,152 shares of the information services provider’s stock worth $2,388,775,000 after purchasing an additional 4,154,929 shares in the last quarter. Laurel Wealth Advisors LLC boosted its holdings in Alphabet by 17,547.9% during the second quarter. Laurel Wealth Advisors LLC now owns 4,122,727 shares of the information services provider’s stock worth $731,331,000 after purchasing an additional 4,099,366 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Alphabet by 330.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,989,463 shares of the information services provider’s stock valued at $707,691,000 after purchasing an additional 3,062,590 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $319.50, for a total value of $10,383,750.00. Following the transaction, the chief executive officer directly owned 2,272,119 shares of the company’s stock, valued at $725,942,020.50. This represents a 1.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the sale, the chief accounting officer owned 11,739 shares of the company’s stock, valued at approximately $3,383,884.14. This represents a 19.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 225,187 shares of company stock worth $69,365,318. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.4%

GOOG stock opened at $335.00 on Wednesday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $341.20. The business’s 50 day simple moving average is $318.29 and its 200 day simple moving average is $263.55. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $4.04 trillion, a PE ratio of 33.04, a PEG ratio of 1.84 and a beta of 1.09.

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

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GOOG. Pivotal Research restated a “buy” rating and set a $400.00 price objective (up from $350.00) on shares of Alphabet in a research note on Friday, December 5th. Scotiabank reissued an “outperform” rating and set a $375.00 price target (up from $336.00) on shares of Alphabet in a research report on Friday, January 9th. Wolfe Research boosted their price target on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a $375.00 price objective on shares of Alphabet in a research note on Thursday, January 15th. Finally, JPMorgan Chase & Co. boosted 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. Eight 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 assigned a Sell rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and a consensus target price of $327.13.

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Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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