Alphabet Inc. $GOOG Shares Bought by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 38.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,403 shares of the information services provider’s stock after purchasing an additional 4,278 shares during the period. Alphabet makes up about 1.3% of Cary Street Partners Investment Advisory LLC’s holdings, making the stock its 10th largest position. Cary Street Partners Investment Advisory LLC’s holdings in Alphabet were worth $2,732,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Alphabet by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock worth $73,927,821,000 after acquiring an additional 5,182,111 shares in the last quarter. Kingstone Capital Partners Texas LLC boosted its position in Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares in the last quarter. Geode Capital Management LLC grew its holdings in Alphabet by 0.4% in the second quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock valued at $19,022,926,000 after purchasing an additional 441,177 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Finally, Sanders Capital LLC raised its stake in shares of Alphabet by 6.4% during the 2nd 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 last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 228,906 shares of company stock worth $62,127,158. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

GOOG opened at $322.09 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $328.67. The company’s 50 day simple moving average is $276.73 and its 200 day simple moving average is $225.28. The stock has a market capitalization of $3.89 trillion, a PE ratio of 31.76, a P/E/G ratio of 1.86 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate 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 net margin of 32.23% and a return on equity of 35.00%. Alphabet’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.12 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOG. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Citigroup restated a “market outperform” rating on shares of Alphabet in a research report on Monday, November 24th. HSBC reiterated a “buy” rating and set a $335.00 target price on shares of Alphabet in a report on Thursday, October 30th. Cowen restated a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Finally, Piper Sandler increased their price objective on Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $310.54.

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.