Shum Financial Group Inc. Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Shum Financial Group Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,277 shares of the information services provider’s stock, valued at approximately $1,405,000. Alphabet comprises approximately 1.2% of Shum Financial Group Inc.’s portfolio, making the stock its 26th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. LMR Partners LLP acquired a new position in shares of Alphabet in the 3rd quarter worth approximately $32,000. Kings Path Partners LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet during the second quarter worth $41,000. Finally, Quarry LP bought a new position in Alphabet during the second quarter worth $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the transaction, the director now directly owns 28,524 shares in the company, valued at approximately $4,385,565. This represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 160,789 shares of company stock worth $27,374,143. 11.55% of the stock is currently owned by company insiders.

Alphabet Trading Up 0.5 %

Shares of Alphabet stock opened at $175.37 on Tuesday. The firm has a market cap of $2.15 trillion, a PE ratio of 23.26, a P/E/G ratio of 1.24 and a beta of 1.01. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a fifty-two week low of $129.68 and a fifty-two week high of $191.75. The business’s fifty day moving average is $169.70 and its two-hundred day moving average is $170.21.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the business earned $1.55 EPS. Analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Morgan Stanley raised their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Finally, DA Davidson started coverage on Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

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.