Alphabet Inc. $GOOG Stake Lifted by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,360 shares of the information services provider’s stock after purchasing an additional 7,100 shares during the quarter. Alphabet accounts for 1.4% of GAMMA Investing LLC’s investment portfolio, making the stock its 9th biggest position. GAMMA Investing LLC’s holdings in Alphabet were worth $25,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the stock. IFS Advisors LLC boosted its holdings in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares during the period. Robbins Farley raised 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 during the period. WestEnd Advisors LLC lifted its position 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 worth $29,000 after purchasing an additional 61 shares in the last quarter. University of Illinois Foundation purchased a new position in shares of Alphabet in the second quarter valued at $31,000. Finally, Fairman Group LLC grew its holdings in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were 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 $592,760,192.85. This represents a 1.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 193,028 shares of company stock valued at $53,188,134. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on GOOG shares. Truist Financial set a $350.00 price objective on shares of Alphabet in a report on Friday, December 5th. Raymond James Financial set a $275.00 price target on Alphabet and gave the stock an “outperform” rating in a research note on Friday, October 24th. TD Cowen increased their price target on Alphabet from $335.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 12th. Wolfe Research lifted their price objective on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, Pivotal Research reiterated a “buy” rating and set a $400.00 target price (up from $350.00) on shares of Alphabet in a research note on Friday, December 5th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $313.04.

Alphabet Trading Down 0.5%

NASDAQ:GOOG opened at $307.73 on Wednesday. The company has a market cap of $3.71 trillion, a PE ratio of 30.35, a P/E/G ratio of 1.79 and a beta of 1.07. The business’s 50 day moving average is $286.12 and its two-hundred day moving average is $232.65. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $328.67.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same period in the prior year, the company posted $2.12 EPS. The business’s revenue was up 15.9% compared to the same quarter last year. On average, analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

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.