Oldfather Financial Services LLC Takes $220,000 Position in Alphabet Inc. (NASDAQ:GOOG)

Oldfather Financial Services LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,200 shares of the information services provider’s stock, valued at approximately $220,000.

A number of other hedge funds also recently bought and sold shares of GOOG. International Assets Investment Management LLC purchased a new stake in Alphabet during the 4th quarter worth approximately $8,232,000. GUNN & Co INVESTMENT MANAGEMENT INC. boosted its stake in shares of Alphabet by 964.3% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 482,698 shares of the information services provider’s stock worth $68,027,000 after acquiring an additional 437,345 shares during the last quarter. PDS Planning Inc increased its position in shares of Alphabet by 3.0% during the fourth quarter. PDS Planning Inc now owns 28,084 shares of the information services provider’s stock worth $3,958,000 after purchasing an additional 830 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in Alphabet by 1.1% in the 4th quarter. Illinois Municipal Retirement Fund now owns 315,852 shares of the information services provider’s stock valued at $44,513,000 after purchasing an additional 3,292 shares during the last quarter. Finally, Roble Belko & Company Inc lifted its holdings in Alphabet by 44.3% in the 4th quarter. Roble Belko & Company Inc now owns 3,845 shares of the information services provider’s stock valued at $542,000 after purchasing an additional 1,180 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the transaction, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the completion of the transaction, the chief executive officer now owns 2,235,511 shares in the company, valued at $394,746,532.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 179,065 shares of company stock valued at $31,025,543. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $167.43 on Friday. The company’s 50-day moving average is $176.34 and its two-hundred day moving average is $164.64. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. 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 firm has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 EPS. Analysts forecast that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Analyst Ratings Changes

GOOG has been the subject of a number of research reports. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Oppenheimer upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Finally, TD Cowen upped their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price 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.