Fox Run Management L.L.C. Purchases 3,888 Shares of Alphabet Inc. $GOOG

Fox Run Management L.L.C. raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 78.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,849 shares of the information services provider’s stock after buying an additional 3,888 shares during the quarter. Fox Run Management L.L.C.’s holdings in Alphabet were worth $1,570,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. IFS Advisors LLC boosted its stake in Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares in the last quarter. Robbins Farley increased its stake in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares in the last quarter. WestEnd Advisors LLC lifted its holdings in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares during the last quarter. Fairman Group LLC boosted its position in shares of Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet in the 1st quarter worth approximately $32,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 954 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the completion of the sale, the chief accounting officer owned 14,517 shares in the company, valued at approximately $4,098,584.61. This represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated 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. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 222,396 shares of company stock worth $54,105,275. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $279.70 on Friday. 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 firm has a market cap of $3.38 trillion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The business has a 50-day simple moving average of $251.81 and a two-hundred day simple moving average of $205.49. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $291.93.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping 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 firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. During the same period in the previous year, the business posted $2.12 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

Analyst Ratings Changes

GOOG has been the subject of a number of analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $330.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Piper Sandler raised their price target on Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Sanford C. Bernstein increased their price objective on shares of Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.