Opinicus Capital Inc. Has $1.45 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Opinicus Capital Inc. grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,686 shares of the information services provider’s stock after buying an additional 84 shares during the quarter. Alphabet makes up about 1.2% of Opinicus Capital Inc.’s investment portfolio, making the stock its 26th largest holding. Opinicus Capital Inc.’s holdings in Alphabet were worth $1,452,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. M&G PLC acquired a new stake in Alphabet in the 3rd quarter worth approximately $2,240,000. Colonial River Wealth Management LLC lifted its holdings in 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 during the last quarter. Verdence Capital Advisors LLC lifted its holdings in Alphabet by 10.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock worth $10,624,000 after purchasing an additional 5,892 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in Alphabet by 4.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after purchasing an additional 498 shares during the last quarter. Finally, Marks Group Wealth Management Inc lifted its holdings in Alphabet by 5.4% in the 3rd quarter. Marks Group Wealth Management Inc now owns 162,384 shares of the information services provider’s stock worth $27,149,000 after purchasing an additional 8,304 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $181.97 on Tuesday. The business’s fifty day moving average price is $164.92 and its two-hundred day moving average price is $171.27. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. The stock has a market capitalization of $2.23 trillion, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 1.26 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last announced 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 firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the prior year, the business posted $1.55 earnings per share. The business’s revenue was up 15.1% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced 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 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 700 shares of the company’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 transaction, the director now directly owns 29,324 shares in the company, valued at $4,838,460. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 241,752 shares of company stock worth $40,156,829. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. UBS Group boosted their target price on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Scotiabank assumed coverage on Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price 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.