MRA Advisory Group Purchases 713 Shares of Alphabet Inc. (NASDAQ:GOOG)

MRA Advisory Group raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,686 shares of the information services provider’s stock after buying an additional 713 shares during the period. Alphabet comprises about 1.1% of MRA Advisory Group’s investment portfolio, making the stock its 20th biggest holding. MRA Advisory Group’s holdings in Alphabet were worth $1,954,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GOOG. Richardson Financial Services Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $34,000. Abich Financial Wealth Management LLC increased its position in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new position in Alphabet during the 2nd quarter valued at $37,000. HWG Holdings LP bought a new position in Alphabet in the 2nd quarter worth $40,000. Finally, Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet in the 2nd quarter worth about $44,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GOOG. Pivotal Research began coverage on shares of Alphabet in a research note on Tuesday. They issued a “buy” rating and a $215.00 price target for the company. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, TD Cowen increased their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $183.75.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. The disclosure for this sale can be found here. Insiders have sold a total of 217,592 shares of company stock worth $35,922,911 over the last 90 days. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Down 0.1 %

Shares of NASDAQ:GOOG opened at $167.21 on Friday. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The stock has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.21 and a beta of 1.04. The stock has a fifty day simple moving average of $163.53 and a two-hundred day simple moving average of $168.49. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

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

Alphabet Dividend Announcement

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

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.