Ranch Capital Advisors Inc. Acquires 912 Shares of Alphabet Inc. (NASDAQ:GOOG)

Ranch Capital Advisors Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 67.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,259 shares of the information services provider’s stock after buying an additional 912 shares during the quarter. Ranch Capital Advisors Inc.’s holdings in Alphabet were worth $414,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GOOG. Gilbert & Cook Inc. boosted its holdings in Alphabet by 15.5% during the fourth quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock worth $4,109,000 after buying an additional 3,924 shares during the last quarter. Concentrum Wealth Management raised its position in shares of Alphabet by 25.0% in the 4th quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock valued at $2,317,000 after acquiring an additional 3,283 shares during the period. Aveo Capital Partners LLC boosted its stake in Alphabet by 2.4% during the 4th quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock worth $937,000 after acquiring an additional 154 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Alphabet during the fourth quarter valued at approximately $620,000. Finally, GW&K Investment Management LLC increased its stake in Alphabet by 13.3% in the fourth quarter. GW&K Investment Management LLC now owns 3,434 shares of the information services provider’s stock valued at $484,000 after purchasing an additional 402 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the sale, the chief executive officer now owns 2,114,885 shares in the company, valued at $339,713,977.55. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders sold a total of 202,667 shares of company stock worth $33,964,256 in the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.9 %

NASDAQ:GOOG opened at $164.64 on Friday. The company has a market cap of $2.03 trillion, a PE ratio of 25.25, a PEG ratio of 1.13 and a beta of 1.04. The stock has a 50-day simple moving average of $166.26 and a 200 day simple moving average of $166.79. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the business earned $1.44 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GOOG shares. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer raised their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. DA Davidson upgraded Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, TD Cowen increased their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $182.86.

Alphabet Company 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.