GoalVest Advisory LLC Acquires 259 Shares of Alphabet Inc. (NASDAQ:GOOG)

GoalVest Advisory LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 22.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,411 shares of the information services provider’s stock after purchasing an additional 259 shares during the quarter. GoalVest Advisory LLC’s holdings in Alphabet were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Accredited Investors Inc. grew its stake in shares of Alphabet by 1.0% during the 3rd quarter. Accredited Investors Inc. now owns 29,246 shares of the information services provider’s stock worth $4,890,000 after acquiring an additional 302 shares during the period. Schneider Downs Wealth Management Advisors LP boosted its stake in Alphabet by 41.8% in the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 4,941 shares of the information services provider’s stock worth $826,000 after purchasing an additional 1,457 shares during the period. South Street Advisors LLC boosted its stake in Alphabet by 12.3% in the 3rd quarter. South Street Advisors LLC now owns 5,465 shares of the information services provider’s stock worth $914,000 after purchasing an additional 600 shares during the period. Heritage Investment Group Inc. boosted its stake in Alphabet by 166.0% in the 3rd quarter. Heritage Investment Group Inc. now owns 4,812 shares of the information services provider’s stock worth $805,000 after purchasing an additional 3,003 shares during the period. Finally, RIA Advisory Group LLC bought a new position in Alphabet in the 3rd quarter worth about $323,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Oppenheimer raised their target price on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Citigroup raised their target price on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their target price on 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 raised their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,471,141 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $173.89 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business’s 50 day simple moving average is $167.01 and its two-hundred day simple moving average is $171.70. The stock has a market capitalization of $2.13 trillion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.55 EPS. Analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

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.