Goldstone Financial Group LLC Purchases New Shares in Alphabet Inc. (NASDAQ:GOOG)

Goldstone Financial Group LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 2,755 shares of the information services provider’s stock, valued at approximately $461,000.

A number of other institutional investors also recently bought and sold shares of the business. Plimoth Trust Co. LLC raised its stake in shares of Alphabet by 1.0% during the first quarter. Plimoth Trust Co. LLC now owns 14,170 shares of the information services provider’s stock worth $2,158,000 after purchasing an additional 135 shares during the last quarter. Azzad Asset Management Inc. ADV acquired a new stake in shares of Alphabet in the 1st quarter worth $248,000. Monument Capital Management lifted its stake in shares of Alphabet by 5.6% in the 1st quarter. Monument Capital Management now owns 3,517 shares of the information services provider’s stock worth $535,000 after acquiring an additional 188 shares during the period. Sivia Capital Partners LLC boosted its holdings in shares of Alphabet by 12.1% in the first quarter. Sivia Capital Partners LLC now owns 20,700 shares of the information services provider’s stock valued at $3,152,000 after acquiring an additional 2,231 shares in the last quarter. Finally, Tradewinds Capital Management LLC increased its stake in shares of Alphabet by 11.8% during the first quarter. Tradewinds Capital Management LLC now owns 4,395 shares of the information services provider’s stock worth $669,000 after acquiring an additional 464 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Alphabet stock opened at $172.69 on Friday. 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 Inc. has a fifty-two week low of $123.93 and a fifty-two week high of $193.31. The stock has a fifty day moving average of $163.71 and a two-hundred day moving average of $170.32. The company has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 26.49, a PEG ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the previous year, the company posted $1.55 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Citigroup boosted their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CAO Amie Thuener O’toole sold 2,835 shares of the company’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 completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 219,744 shares of company stock valued at $35,878,764. Company insiders own 12.99% of the company’s stock.

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.