Fonville Wealth Management LLC Buys 959 Shares of Alphabet Inc. (NASDAQ:GOOG)

Fonville Wealth Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 52.6% in the third quarter, HoldingsChannel reports. The firm owned 2,781 shares of the information services provider’s stock after purchasing an additional 959 shares during the quarter. Fonville Wealth Management LLC’s holdings in Alphabet were worth $465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Wallington Asset Management LLC boosted its position in Alphabet by 1.1% during the first quarter. Wallington Asset Management LLC now owns 77,062 shares of the information services provider’s stock worth $11,733,000 after purchasing an additional 856 shares during the period. Meadow Creek Wealth Advisors LLC lifted its holdings in shares of Alphabet by 274.9% during the first quarter. Meadow Creek Wealth Advisors LLC now owns 13,248 shares of the information services provider’s stock worth $2,017,000 after buying an additional 9,714 shares in the last quarter. Bourgeon Capital Management LLC lifted its holdings in shares of Alphabet by 68.5% during the first quarter. Bourgeon Capital Management LLC now owns 12,246 shares of the information services provider’s stock worth $1,865,000 after buying an additional 4,978 shares in the last quarter. Madrona Financial Services LLC lifted its holdings in shares of Alphabet by 1.7% during the first quarter. Madrona Financial Services LLC now owns 7,376 shares of the information services provider’s stock worth $1,123,000 after buying an additional 121 shares in the last quarter. Finally, PCG Wealth Advisors LLC lifted its holdings in shares of Alphabet by 5.8% during the first quarter. PCG Wealth Advisors LLC now owns 1,823 shares of the information services provider’s stock worth $278,000 after buying an additional 100 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. The trade was 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 230,244 shares of company stock worth $37,776,954. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GOOG shares. UBS Group lifted their target price on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday. TD Cowen lifted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Barclays boosted their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Stock Performance

Alphabet stock opened at $172.65 on Friday. Alphabet Inc. has a 12-month low of $128.11 and a 12-month high of $193.31. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average price is $163.81 and its two-hundred day moving average price is $170.43. The stock has a market cap of $2.13 trillion, a PE ratio of 22.90, a P/E/G ratio of 1.31 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.55 earnings per share. As a group, analysts expect that Alphabet Inc. will post 7.83 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

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.