1,200 Shares in Alphabet Inc. (NASDAQ:GOOG) Acquired by Oldfather Financial Services LLC

Oldfather Financial Services LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,200 shares of the information services provider’s stock, valued at approximately $220,000.

Other hedge funds have also added to or reduced their stakes in the company. Partnership Wealth Management LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $26,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the 4th quarter valued at $32,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in Alphabet during the 4th quarter valued at $34,000. Richardson Financial Services Inc. bought a new stake in shares of Alphabet in the 4th quarter worth $34,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet in the second quarter worth $37,000. 27.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at $362,126,319.10. The disclosure for this sale can be found here. Insiders sold a total of 179,065 shares of company stock worth $31,025,543 over the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Up 1.2 %

Shares of GOOG stock opened at $167.43 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market cap of $2.07 trillion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The firm has a fifty day moving average price of $176.34 and a 200-day moving average price of $164.64.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. Alphabet’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, equities analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Wall Street Analyst Weigh In

GOOG has been the subject of several research analyst reports. Oppenheimer lifted their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. TD Cowen boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and a consensus price target of $182.86.

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.