Goodman Advisory Group LLC Buys 37,795 Shares of Alphabet Inc. $GOOGL

Goodman Advisory Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1,393.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,508 shares of the information services provider’s stock after acquiring an additional 37,795 shares during the quarter. Alphabet comprises 2.4% of Goodman Advisory Group LLC’s holdings, making the stock its 13th largest position. Goodman Advisory Group LLC’s holdings in Alphabet were worth $7,139,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of GOOGL. Norges Bank bought a new stake in Alphabet in the 2nd quarter valued at $21,944,208,000. Nuveen LLC acquired a new stake in shares of Alphabet during the first quarter worth $4,317,606,000. Laurel Wealth Advisors LLC lifted its holdings in shares of Alphabet by 17,667.7% during the second quarter. Laurel Wealth Advisors LLC now owns 15,245,075 shares of the information services provider’s stock worth $2,686,640,000 after buying an additional 15,159,273 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Alphabet by 51.7% in the second quarter. Franklin Resources Inc. now owns 31,817,684 shares of the information services provider’s stock valued at $5,607,232,000 after acquiring an additional 10,843,853 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Alphabet by 1.3% in the second quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock valued at $91,033,300,000 after acquiring an additional 6,733,278 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the transaction, the chief executive officer directly owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 226,128 shares of company stock worth $61,326,372 in the last three months. 11.64% of the stock is owned by corporate insiders.

Alphabet Price Performance

Alphabet stock opened at $309.29 on Friday. 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 Inc. has a 52 week low of $140.53 and a 52 week high of $328.83. The stock has a market capitalization of $3.73 trillion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 1.79 and a beta of 1.07. The stock has a fifty day moving average of $283.14 and a 200-day moving average of $229.57.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Needham & Company LLC boosted their price objective on shares of Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, October 30th. China Renaissance boosted their price target on Alphabet from $207.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Wall Street Zen upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. CIBC lifted their price objective on Alphabet to $315.00 in a report on Monday, October 20th. Finally, New Street Research increased their target price on Alphabet from $275.00 to $295.00 in a report on Friday, October 24th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $314.22.

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.