Alphabet Inc. (NASDAQ:GOOG) Stake Boosted by Grandview Asset Management LLC

Grandview Asset Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,839 shares of the information services provider’s stock after purchasing an additional 494 shares during the period. Alphabet makes up about 2.3% of Grandview Asset Management LLC’s portfolio, making the stock its 10th biggest holding. Grandview Asset Management LLC’s holdings in Alphabet were worth $3,986,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GOOG. Richardson Financial Services Inc. purchased a new position in shares of Alphabet in the fourth quarter worth $34,000. Abich Financial Wealth Management LLC increased its position in shares of 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 acquiring an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new position in Alphabet in the 2nd quarter worth $37,000. HWG Holdings LP purchased a new position in Alphabet in the 2nd quarter worth $40,000. Finally, Slocum Gordon & Co LLP acquired a new stake in Alphabet during the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG traded up $1.35 during trading hours on Friday, hitting $168.56. The stock had a trading volume of 11,435,318 shares, compared to its average volume of 19,948,043. The firm has a 50-day moving average price of $163.53 and a 200 day moving average price of $168.77. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The firm has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 25.85, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $84.22 billion. During the same quarter in the prior year, the firm posted $1.44 earnings per share. The company’s revenue was up 13.6% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Ratings Changes

GOOG has been the topic of a number of research reports. Pivotal Research initiated coverage on Alphabet in a report on Tuesday. They issued a “buy” rating and a $215.00 price objective on the stock. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. Oppenheimer dropped their price objective on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Finally, TD Cowen raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report 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, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $183.75.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the transaction, the director now directly owns 28,524 shares in the company, valued at $4,385,565. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 217,592 shares of company stock valued at $35,922,911. Company insiders own 12.99% of the company’s stock.

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.