MONECO Advisors LLC Has $2.82 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

MONECO Advisors LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,021 shares of the information services provider’s stock after acquiring an additional 656 shares during the period. MONECO Advisors LLC’s holdings in Alphabet were worth $2,815,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC grew its stake in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Alphabet by 4.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider’s stock worth $96,465,000 after purchasing an additional 20,855 shares during the last quarter. Disciplined Investors L.L.C. bought a new stake in Alphabet in the 4th quarter worth about $614,000. Biltmore Family Office LLC grew its position in Alphabet by 2.9% in the 4th quarter. Biltmore Family Office LLC now owns 23,101 shares of the information services provider’s stock worth $4,399,000 after purchasing an additional 661 shares in the last quarter. Finally, Westpac Banking Corp increased its stake in Alphabet by 5.4% in the 4th quarter. Westpac Banking Corp now owns 61,641 shares of the information services provider’s stock valued at $11,739,000 after buying an additional 3,140 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $192.86 on Friday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a fifty day moving average of $178.96 and a 200-day moving average of $174.70. The company has a market capitalization of $2.34 trillion, a P/E ratio of 20.54, a P/E/G ratio of 1.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter last year, the business posted $1.89 earnings per share. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s payout ratio is presently 8.95%.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 15,000 shares of the company’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company’s stock, valued at approximately $44,656,704. This represents a 5.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 400 shares of Alphabet stock in a transaction on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the transaction, the director owned 6,013 shares in the company, valued at approximately $1,094,245.74. The trade was a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,399 shares of company stock worth $43,525,794 in the last quarter. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Scotiabank boosted their target price on Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 22nd. Pivotal Research lifted their price target on Alphabet from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Susquehanna restated a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.19.

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.