Alphabet Inc. $GOOG Shares Acquired by Soltis Investment Advisors LLC
by Amy Steele · The Cerbat GemSoltis Investment Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 4.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,419 shares of the information services provider’s stock after purchasing an additional 1,232 shares during the period. Soltis Investment Advisors LLC’s holdings in Alphabet were worth $5,219,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Phillips Financial Management LLC raised its holdings in Alphabet by 7.7% in the first quarter. Phillips Financial Management LLC now owns 4,486 shares of the information services provider’s stock valued at $701,000 after acquiring an additional 321 shares in the last quarter. Cerity Partners LLC raised its holdings in Alphabet by 33.8% in the first quarter. Cerity Partners LLC now owns 3,173,396 shares of the information services provider’s stock valued at $492,677,000 after acquiring an additional 801,638 shares in the last quarter. Covey Capital Advisors LLC lifted its stake in Alphabet by 8.3% in the first quarter. Covey Capital Advisors LLC now owns 28,188 shares of the information services provider’s stock worth $4,404,000 after acquiring an additional 2,168 shares during the last quarter. Finally, State of Michigan Retirement System grew its stake in shares of Alphabet by 2.2% during the first quarter. State of Michigan Retirement System now owns 1,548,160 shares of the information services provider’s stock worth $241,869,000 after purchasing an additional 33,800 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have commented on GOOG. Morgan Stanley increased their price target on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Cantor Fitzgerald set a $310.00 price target on Alphabet and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Canaccord Genuity Group reissued a “buy” rating and issued a $330.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Finally, Barclays upped their price target on shares of Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $324.81.
Check Out Our Latest Research Report on Alphabet
Insider Transactions at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares in the company, 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. In the last three months, insiders sold 222,396 shares of company stock valued at $54,105,275. Corporate insiders own 12.99% of the company’s stock.
Alphabet Stock Performance
NASDAQ:GOOG opened at $279.70 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $3.38 trillion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The firm’s fifty day moving average price is $251.81 and its 200 day moving average price is $205.14. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $291.93.
Alphabet (NASDAQ:GOOG – Get Free Report) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business earned $2.12 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio 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.
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