Greenwood Gearhart Inc. Has $26.54 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Greenwood Gearhart Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 8.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 158,741 shares of the information services provider’s stock after purchasing an additional 12,858 shares during the period. Alphabet comprises approximately 2.2% of Greenwood Gearhart Inc.’s investment portfolio, making the stock its 16th biggest holding. Greenwood Gearhart Inc.’s holdings in Alphabet were worth $26,541,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Weiss Asset Management LP bought a new stake in shares of Alphabet during the 3rd quarter worth approximately $25,000. Abich Financial Wealth Management LLC increased its holdings in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new stake in Alphabet during the third quarter worth $33,000. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet in the 2nd quarter valued at about $37,000. Finally, HWG Holdings LP acquired a new position in shares of Alphabet during the 2nd quarter worth about $40,000. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GOOG shares. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group upped their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five investment 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Stock Up 0.5 %

Shares of NASDAQ GOOG opened at $177.10 on Tuesday. The stock has a market capitalization of $2.17 trillion, a P/E ratio of 23.49, a PEG ratio of 1.23 and a beta of 1.02. The stock’s fifty day moving average is $171.26 and its 200 day moving average is $171.73. Alphabet Inc. has a 52 week low of $131.06 and a 52 week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last issued its 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. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,789 shares of company stock valued at $27,374,143. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

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.