StoneX Group Inc. Grows Stock Position in Alphabet Inc. (NASDAQ:GOOG)

StoneX Group Inc. raised its position in Alphabet Inc. (NASDAQ:GOOG) by 3.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,491 shares of the information services provider’s stock after buying an additional 659 shares during the period. StoneX Group Inc.’s holdings in Alphabet were worth $3,593,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. M&G PLC purchased a new position in Alphabet during the third quarter worth approximately $2,240,000. Colonial River Wealth Management LLC lifted its stake 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 valued at $390,000 after purchasing an additional 107 shares during the last quarter. Metis Global Partners LLC boosted its stake in Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after buying an additional 4,292 shares during the period. Verdence Capital Advisors LLC increased 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 valued at $10,624,000 after purchasing an additional 5,892 shares during the last quarter. Finally, Rosenberg Matthew Hamilton grew its stake in shares of Alphabet by 4.6% in the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after buying an additional 498 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. The trade was a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The trade was a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,673,866 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Down 1.6 %

NASDAQ GOOG opened at $166.57 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.04 trillion, a P/E ratio of 22.09, a P/E/G ratio of 1.18 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 has a 50-day moving average price of $169.10 and a 200 day moving average price of $171.86.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping 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 business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the prior year, the business posted $1.55 EPS. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s payout ratio is currently 10.61%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GOOG. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Canaccord Genuity Group upped their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Scotiabank started coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has an average 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.