Janney Capital Management LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Janney Capital Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 18.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,456 shares of the information services provider’s stock after acquiring an additional 2,069 shares during the period. Janney Capital Management LLC’s holdings in Alphabet were worth $2,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOG. Colonial River Wealth Management LLC boosted its position in shares of Alphabet by 5.3% in the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after purchasing an additional 107 shares in the last quarter. Oak Ridge Investments LLC grew its stake in shares of Alphabet by 4.6% during the first quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after acquiring an additional 8,201 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of Alphabet by 4.6% during the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after acquiring an additional 498 shares in the last quarter. Alliance Wealth Management Group increased its holdings in shares of Alphabet by 93.6% during the first quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock valued at $595,000 after acquiring an additional 1,890 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of Alphabet by 4.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,628,176 shares of the information services provider’s stock valued at $439,405,000 after purchasing an additional 115,716 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $172.65 on Monday. The firm has a market cap of $2.13 trillion, a PE ratio of 22.90, a P/E/G ratio of 1.24 and a beta of 1.04. The business has a 50-day moving average price of $163.81 and a 200 day moving average price of $170.63. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $128.11 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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 $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 230,244 shares of company stock worth $37,776,954. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on GOOG shares. Canaccord Genuity Group boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Barclays raised their target price on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group upped their target price on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Company 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.