Fusion Capital LLC Takes $215,000 Position in Alphabet Inc. $GOOG
by Doug Wharley · The Cerbat GemFusion Capital LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,211 shares of the information services provider’s stock, valued at approximately $215,000.
Several other hedge funds have also added to or reduced their stakes in GOOG. IFS Advisors LLC increased its position in Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after buying an additional 120 shares during the period. Robbins Farley boosted its position in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the period. WestEnd Advisors LLC grew its stake in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares in the last quarter. Fairman Group LLC increased its position in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after acquiring an additional 97 shares during the period. Finally, Greykasell Wealth Strategies Inc. bought a new position in Alphabet during the first quarter worth about $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
GOOG has been the subject of a number of recent research reports. Raymond James Financial set a $275.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a report on Friday, October 24th. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, November 7th. Piper Sandler increased their price target on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. UBS Group restated a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. Finally, Hsbc Global Res raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Six analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.
Read Our Latest Analysis on GOOG
Alphabet Stock Performance
NASDAQ GOOG opened at $276.98 on Friday. The firm’s 50 day simple moving average is $257.84 and its 200 day simple moving average is $209.48. The firm has a market capitalization of $3.34 trillion, a price-to-earnings ratio of 27.32, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $292.36.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.12 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The firm 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 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.
Insiders Place Their Bets
In other Alphabet news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the transaction, the director owned 18,004 shares in the company, valued at $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 221,796 shares of company stock valued at $53,983,001 over the last ninety days. 12.99% of the stock is owned by insiders.
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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