Lifeworks Advisors LLC Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Lifeworks Advisors LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 6.5% during the 3rd quarter, Holdings Channel reports. The fund owned 1,420 shares of the information services provider’s stock after buying an additional 87 shares during the quarter. Lifeworks Advisors LLC’s holdings in Alphabet were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. Abich Financial Wealth Management LLC boosted 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 in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Alphabet during the second quarter worth about $37,000. HWG Holdings LP purchased a new stake in Alphabet during the second quarter worth about $40,000. Sanctuary Wealth Management L.L.C. lifted its holdings in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet in the second quarter valued at about $44,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’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 sale, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The trade was a 1.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock worth $34,471,141 over the last ninety days. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, UBS Group boosted their price objective 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. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Stock Performance

Shares of GOOG stock opened at $177.35 on Friday. Alphabet Inc. has a one year low of $129.40 and a one year 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. The company has a 50 day moving average price of $166.20 and a 200 day moving average price of $171.57. The firm has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping 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 company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the previous year, the firm earned $1.55 earnings per share. Alphabet’s revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid 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 yield of 0.45%. Alphabet’s dividend payout ratio is currently 10.61%.

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.