GM Advisory Group LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOG)

GM Advisory Group LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 47,547 shares of the information services provider’s stock after acquiring an additional 902 shares during the quarter. GM Advisory Group LLC’s holdings in Alphabet were worth $7,949,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its position in shares of Alphabet by 360.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock worth $3,083,000 after acquiring an additional 15,848 shares in the last quarter. Quent Capital LLC boosted its stake in Alphabet by 5.8% in the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock worth $4,980,000 after purchasing an additional 1,798 shares during the period. Advisors Asset Management Inc. grew its holdings in Alphabet by 27.1% during the 1st quarter. Advisors Asset Management Inc. now owns 10,645 shares of the information services provider’s stock valued at $1,621,000 after buying an additional 2,269 shares in the last quarter. Kestra Advisory Services LLC increased its position in shares of Alphabet by 11.1% during the first quarter. Kestra Advisory Services LLC now owns 459,466 shares of the information services provider’s stock valued at $69,958,000 after buying an additional 45,882 shares during the period. Finally, BOKF NA lifted its holdings in shares of Alphabet by 5.8% in the first quarter. BOKF NA now owns 320,576 shares of the information services provider’s stock worth $50,170,000 after buying an additional 17,627 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This trade represents a 8.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,673,866 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on GOOG shares. UBS Group upped their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Pivotal Research increased their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Scotiabank initiated coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Trading Down 4.4 %

Shares of GOOG opened at $169.49 on Friday. The firm has a fifty day simple moving average of $168.93 and a two-hundred day simple moving average of $171.90. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 22.48, a PEG ratio of 1.26 and a beta of 1.04. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same period in the prior year, the business posted $1.55 earnings per share. Alphabet’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, research analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.