Kestra Investment Management LLC Makes New $526,000 Investment in Alphabet Inc. (NASDAQ:GOOG)

Kestra Investment Management LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,149 shares of the information services provider’s stock, valued at approximately $526,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Abich Financial Wealth Management LLC increased its stake in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet in the 2nd quarter valued at about $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet in the 2nd quarter worth approximately $40,000. Slocum Gordon & Co LLP bought a new position in shares of Alphabet during the second quarter valued at approximately $44,000. Finally, Sanctuary Wealth Management L.L.C. increased its holdings in Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $170.49 on Monday. Alphabet Inc. has a 12-month low of $129.40 and a 12-month high of $193.31. The company has a market capitalization of $2.09 trillion, a P/E ratio of 22.61, a P/E/G ratio of 1.19 and a beta of 1.04. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $169.98 and its two-hundred day moving average is $171.82.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating 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 firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same period last year, the company posted $1.55 EPS. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. Analysts expect that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the sale, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This trade represents a 35.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the transaction, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock worth $34,673,866. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of analyst reports. Wells Fargo & Company upped their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Pivotal Research boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer upped their price objective on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Five research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

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.