Delta Financial Group Inc. Has $4.63 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Delta Financial Group Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,708 shares of the information services provider’s stock after acquiring an additional 158 shares during the quarter. Alphabet accounts for 1.7% of Delta Financial Group Inc.’s portfolio, making the stock its 10th largest position. Delta Financial Group Inc.’s holdings in Alphabet were worth $4,632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Richardson Financial Services Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $34,000. Abich Financial Wealth Management LLC raised its position in Alphabet by 9,200.0% in the 2nd 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 last quarter. 1620 Investment Advisors Inc. bought a new stake in Alphabet in the 2nd quarter valued at approximately $37,000. HWG Holdings LP acquired a new position in Alphabet during the 2nd quarter worth approximately $40,000. Finally, Slocum Gordon & Co LLP bought a new position in shares of Alphabet during the 2nd quarter worth approximately $44,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. TD Cowen increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Oppenheimer dropped their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $183.75.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $167.21 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average price is $163.53 and its two-hundred day moving average price is $168.49. The company has a market cap of $2.07 trillion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31.

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

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the sale, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 217,592 shares of company stock valued at $35,922,911. Company insiders own 12.99% of the company’s stock.

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.