Clarus Group Inc. Buys 462 Shares of Alphabet Inc. $GOOG

Clarus Group Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 7.2% during the 2nd quarter, Holdings Channel reports. The firm owned 6,849 shares of the information services provider’s stock after acquiring an additional 462 shares during the period. Alphabet makes up 0.4% of Clarus Group Inc.’s holdings, making the stock its 28th biggest holding. Clarus Group Inc.’s holdings in Alphabet were worth $1,215,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC lifted its holdings in Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares in the last quarter. Nuveen LLC bought a new position in Alphabet during the first quarter worth about $2,622,943,000. GAMMA Investing LLC lifted its holdings in Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock worth $2,237,733,000 after acquiring an additional 14,246,573 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Down 0.5%

Shares of NASDAQ:GOOG opened at $246.57 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The stock has a market cap of $2.98 trillion, a PE ratio of 26.26, a P/E/G ratio of 1.67 and a beta of 1.01. The business has a 50 day moving average of $215.38 and a 200-day moving average of $183.72. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

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

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is currently 8.95%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group boosted their price target on Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Piper Sandler restated a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Lake Street Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Roth Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.35.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 258,088 shares of company stock valued at $52,405,304 in the last three months. Company insiders own 12.99% of the company’s stock.

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.