Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Wright Investors Service Inc.

Wright Investors Service Inc. raised its position in Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,368 shares of the information services provider’s stock after purchasing an additional 382 shares during the quarter. Alphabet comprises 1.8% of Wright Investors Service Inc.’s investment portfolio, making the stock its 13th biggest position. Wright Investors Service Inc.’s holdings in Alphabet were worth $6,916,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GOOG. Richardson Financial Services Inc. acquired a new position in Alphabet in the fourth quarter valued at about $34,000. Abich Financial Wealth Management LLC raised its position in Alphabet by 9,200.0% in the second 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. acquired a new stake in shares of Alphabet in the second quarter valued at $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet in the 2nd quarter valued at $40,000. Finally, Slocum Gordon & Co LLP acquired a new position in Alphabet during the 2nd quarter worth about $44,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.8 %

Shares of NASDAQ GOOG traded up $1.35 during midday trading on Friday, hitting $168.56. 11,435,318 shares of the company’s stock were exchanged, compared to its average volume of 19,948,043. The firm’s fifty day simple moving average is $163.53 and its 200-day simple moving average is $168.77. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market cap of $2.08 trillion, a PE ratio of 25.85, a P/E/G 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 issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the prior year, the business posted $1.44 EPS. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. Research analysts predict that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Wall Street Analyst Weigh In

GOOG has been the subject of several research reports. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Pivotal Research initiated coverage on Alphabet in a research report on Tuesday. They set a “buy” rating and a $215.00 price objective on the stock. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, TD Cowen lifted their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. 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, the company has an average rating of “Moderate Buy” and a consensus price target of $183.75.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was 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 owns 30,824 shares in the company, valued at approximately $5,728,640.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,728,640.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 217,592 shares of company stock valued at $35,922,911 in the last three months. 12.99% of the stock is currently owned by company insiders.

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.