Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by AlphaCore Capital LLC

AlphaCore Capital LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,698 shares of the information services provider’s stock after purchasing an additional 977 shares during the quarter. Alphabet makes up approximately 0.8% of AlphaCore Capital LLC’s holdings, making the stock its 21st largest holding. AlphaCore Capital LLC’s holdings in Alphabet were worth $3,628,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC boosted its holdings in shares of Alphabet by 9.1% in the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after buying an additional 1,291,274 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Alphabet by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after purchasing an additional 636,008 shares during the last quarter. American Century Companies Inc. grew its stake in Alphabet by 2.3% during the 2nd quarter. American Century Companies Inc. now owns 12,327,458 shares of the information services provider’s stock worth $2,261,103,000 after buying an additional 282,121 shares during the last quarter. Principal Financial Group Inc. increased its position in Alphabet by 2.5% in the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after buying an additional 264,962 shares during the period. Finally, National Pension Service boosted its holdings in shares of Alphabet by 14.0% during the third quarter. National Pension Service now owns 9,903,537 shares of the information services provider’s stock valued at $1,655,772,000 after acquiring an additional 1,218,671 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent analyst reports. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Canaccord Genuity Group boosted their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report 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 note on Wednesday, October 30th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $200.56.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now directly owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,795 shares of company stock valued at $34,673,866. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG opened at $169.49 on Friday. Alphabet Inc. has a 52 week low of $129.40 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. The company has a market capitalization of $2.07 trillion, a PE ratio of 22.48, a PEG ratio of 1.26 and a beta of 1.04. The company’s 50 day moving average price is $168.93 and its 200 day moving average price is $171.90.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $86.39 billion. Alphabet’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.55 earnings per share. Research analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is 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.