Alphabet Inc. $GOOG Shares Purchased by Grimes & Company Inc.

Grimes & Company Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the second quarter, Holdings Channel reports. The fund owned 72,444 shares of the information services provider’s stock after buying an additional 1,140 shares during the quarter. Grimes & Company Inc.’s holdings in Alphabet were worth $12,851,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IFS Advisors LLC boosted its holdings in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares during the period. Robbins Farley boosted its stake in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $26,000. Greykasell Wealth Strategies Inc. purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $32,000. Finally, Goodman Advisory Group LLC purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GOOG. Scotiabank increased their target price on Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 22nd. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Pivotal Research increased their target price on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Finally, KeyCorp set a $265.00 target price on Alphabet in a research note on Wednesday, September 3rd. Five investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $235.33.

Alphabet Stock Performance

GOOG stock opened at $247.13 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.99 trillion, a P/E ratio of 26.32, a P/E/G ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The stock’s 50 day simple moving average is $224.07 and its 200 day simple moving average is $188.32.

Alphabet (NASDAQ:GOOG) last posted 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. 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 analyst estimates of $93.67 billion. During the same period in the prior year, the company posted $1.89 EPS. The business’s revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the sale, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares in the company, valued at $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock valued at $59,135,475 over the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet 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.