Beacon Pointe Advisors LLC Purchases 3,607 Shares of Alphabet Inc. $GOOG

Beacon Pointe Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 182,722 shares of the information services provider’s stock after purchasing an additional 3,607 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Alphabet were worth $32,413,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GOOG. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock valued at $73,927,821,000 after acquiring an additional 5,182,111 shares during the last quarter. Kingstone Capital Partners Texas LLC lifted its stake in shares of Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Alphabet by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock worth $19,022,926,000 after purchasing an additional 441,177 shares during the period. JPMorgan Chase & Co. increased its position in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares during the last quarter. Finally, Sanders Capital LLC boosted its stake in Alphabet by 6.4% during the second quarter. Sanders Capital LLC now owns 35,357,943 shares of the information services provider’s stock worth $6,272,146,000 after buying an additional 2,117,990 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on 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 transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was 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 directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 227,850 shares of company stock valued at $58,874,814 over the last ninety days. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of GOOG stock opened at $315.12 on Tuesday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $328.67. The stock has a market capitalization of $3.80 trillion, a price-to-earnings ratio of 31.08, a P/E/G ratio of 1.86 and a beta of 1.05. The stock has a fifty day simple moving average of $271.07 and a two-hundred day simple moving average of $221.40. 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 released its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same period in the previous year, the company posted $2.12 earnings per share. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. UBS Group reissued a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $330.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Phillip Securities upgraded Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, November 7th. Finally, Sanford C. Bernstein raised their price target on Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $307.22.

Alphabet 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.