Bretton Capital Management LLC Purchases New Holdings in Alphabet Inc. (NASDAQ:GOOG)

Bretton Capital Management LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 57,000 shares of the information services provider’s stock, valued at approximately $9,530,000. Alphabet accounts for approximately 9.1% of Bretton Capital Management LLC’s portfolio, making the stock its biggest position.

Several other institutional investors also recently modified their holdings of the company. Wealthstream Advisors Inc. raised its position in Alphabet by 2.4% in the third quarter. Wealthstream Advisors Inc. now owns 9,352 shares of the information services provider’s stock worth $1,564,000 after purchasing an additional 220 shares in the last quarter. Huntington National Bank raised its holdings in shares of Alphabet by 0.3% in the 3rd quarter. Huntington National Bank now owns 233,305 shares of the information services provider’s stock worth $39,006,000 after buying an additional 762 shares in the last quarter. Summit Asset Management LLC raised its holdings in shares of Alphabet by 1.5% in the 3rd quarter. Summit Asset Management LLC now owns 8,535 shares of the information services provider’s stock worth $1,427,000 after buying an additional 127 shares in the last quarter. Fortis Capital Management LLC boosted its stake in Alphabet by 3.3% in the 3rd quarter. Fortis Capital Management LLC now owns 58,567 shares of the information services provider’s stock valued at $9,792,000 after buying an additional 1,895 shares in the last quarter. Finally, Plato Investment Management Ltd grew its position in Alphabet by 1.1% in the third quarter. Plato Investment Management Ltd now owns 125,590 shares of the information services provider’s stock valued at $20,976,000 after acquiring an additional 1,314 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the transaction, the director now owns 29,324 shares of the company’s stock, valued at $4,838,460. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the transaction, the director now directly owns 29,324 shares in the company, valued at approximately $4,838,460. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 207,495 shares of company stock valued at $34,586,641. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $180.49 on Thursday. The company has a market cap of $2.21 trillion, a PE ratio of 23.94, a PEG ratio of 1.29 and a beta of 1.04. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The company’s 50-day moving average is $166.20 and its two-hundred day moving average is $171.57.

Alphabet (NASDAQ:GOOG) last posted 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the prior year, the business posted $1.55 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. Equities analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GOOG. Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Jefferies Financial Group lifted their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

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.