Goodman Advisory Group LLC Has $447,000 Position in Alphabet Inc. (NASDAQ:GOOG)

Goodman Advisory Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,674 shares of the information services provider’s stock after purchasing an additional 61 shares during the period. Goodman Advisory Group LLC’s holdings in Alphabet were worth $447,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Weiss Asset Management LP bought a new position in Alphabet in the third quarter worth approximately $25,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet during the third quarter worth approximately $33,000. Abich Financial Wealth Management LLC lifted its holdings 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 worth $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in Alphabet during the 2nd quarter valued at $37,000. Finally, HWG Holdings LP acquired a new position in shares of Alphabet during the second quarter valued at about $40,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Thursday, September 12th. The stock was 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 of the company’s stock, valued at $4,385,565. The trade was a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,789 shares of company stock valued at $27,374,143. 12.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GOOG. Jefferies Financial Group lifted their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. UBS Group upped their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Scotiabank assumed coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group increased their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Price Performance

Shares of GOOG opened at $177.10 on Tuesday. The firm’s 50-day simple moving average is $171.26 and its two-hundred day simple moving average is $171.73. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market cap of $2.17 trillion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02. Alphabet Inc. has a fifty-two week low of $131.06 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same period last year, the business posted $1.55 EPS. Analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

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.