AMI Investment Management Inc. Has $8.26 Million Holdings in Alphabet Inc. $GOOG

AMI Investment Management Inc. increased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,578 shares of the information services provider’s stock after purchasing an additional 120 shares during the period. Alphabet makes up 2.1% of AMI Investment Management Inc.’s investment portfolio, making the stock its 13th largest holding. AMI Investment Management Inc.’s holdings in Alphabet were worth $8,263,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of Alphabet by 5.6% during the fourth 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. Revisor Wealth Management LLC boosted its stake in Alphabet by 107.9% during the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock valued at $572,000 after purchasing an additional 1,899 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Alphabet by 19.5% in the first quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider’s stock valued at $14,323,000 after purchasing an additional 14,931 shares in the last quarter. Krilogy Financial LLC lifted its holdings in shares of Alphabet by 3.2% in the first quarter. Krilogy Financial LLC now owns 47,104 shares of the information services provider’s stock valued at $7,359,000 after purchasing an additional 1,439 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. lifted its holdings in shares of Alphabet by 3.3% in the first quarter. Ipswich Investment Management Co. Inc. now owns 15,752 shares of the information services provider’s stock valued at $2,461,000 after purchasing an additional 505 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Down 1.9%

Shares of GOOG stock opened at $237.49 on Friday. The company has a 50 day moving average of $226.97 and a 200-day moving average of $189.81. 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 Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The firm has a market cap of $2.87 trillion, a P/E ratio of 25.29, a PEG ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 during the quarter, compared to analyst estimates of $93.67 billion. During the same period in the prior year, the company earned $1.89 earnings per share. Alphabet’s revenue was up 13.8% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 953 shares of Alphabet stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the transaction, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the transaction, the director directly owned 5,716 shares of the company’s stock, valued at approximately $1,425,799.04. This trade represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock worth $59,135,475 in the last ninety days. 12.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. BNP Paribas lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday. UBS Group set a $255.00 price target on shares of Alphabet and gave the stock a “neutral” rating in a report on Thursday. Pivotal Research boosted their price target on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Finally, TD Cowen lifted their target price on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $241.00.

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.