Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Dearborn Partners LLC

Dearborn Partners LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,628 shares of the information services provider’s stock after acquiring an additional 731 shares during the quarter. Dearborn Partners LLC’s holdings in Alphabet were worth $1,777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Twelve Points Wealth Management LLC increased its holdings in Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after buying an additional 55 shares during the last quarter. PCG Wealth Advisors LLC raised its holdings in Alphabet by 3.1% during the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after purchasing an additional 57 shares in the last quarter. Investment Advisory Services Inc. TX ADV boosted its holdings in shares of Alphabet by 1.6% in the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after buying an additional 57 shares in the last quarter. Advisors Management Group Inc. ADV raised its stake in Alphabet by 2.0% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after acquiring an additional 58 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC lifted its position in Alphabet by 11.1% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after acquiring an additional 60 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares in the company, valued at $56,765,168.06. The trade was a 3.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. This represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,471,141 over the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $177.35 on Friday. The firm has a market capitalization of $2.17 trillion, a PE ratio of 23.52, a P/E/G ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 52 week low of $129.40 and a 52 week high of $193.31. The firm’s 50-day simple moving average is $166.20 and its 200 day simple moving average is $171.57. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last released its quarterly 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same period in the prior year, the business earned $1.55 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. On average, equities research analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Canaccord Genuity Group upped their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group upped their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Jefferies Financial Group increased their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Pivotal Research boosted their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

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.