GM Advisory Group LLC Purchases 935 Shares of Alphabet Inc. (NASDAQ:GOOG)

GM Advisory Group LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 46,645 shares of the information services provider’s stock after buying an additional 935 shares during the period. GM Advisory Group LLC’s holdings in Alphabet were worth $8,556,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in shares of Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after acquiring an additional 13,876,534 shares during the period. Swedbank AB purchased a new position in Alphabet in the 1st quarter worth approximately $1,378,708,000. Capital International Investors boosted its stake in Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after purchasing an additional 7,470,042 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Alphabet by 51.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock valued at $976,923,000 after buying an additional 2,190,795 shares in the last quarter. Finally, Vima LLC raised its position in shares of Alphabet by 178,253.1% during the first quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after buying an additional 2,000,000 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.5 %

GOOG opened at $163.24 on Friday. The stock has a 50-day moving average of $166.71 and a 200 day moving average of $166.58. 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 Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The firm has a market cap of $2.02 trillion, a P/E ratio of 25.04, a P/E/G ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping 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 company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period last year, the company earned $1.44 earnings per share. Alphabet’s revenue was up 13.6% on a year-over-year basis. As a group, research analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares in the company, valued at $6,307,206.90. The disclosure for this sale can be found here. Insiders sold 202,667 shares of company stock worth $33,964,256 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GOOG. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Oppenheimer raised their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. TD Cowen lifted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Rosenblatt Securities cut 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. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $182.86.

About Alphabet

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.