Alphabet Inc. $GOOG is M. Kraus & Co’s 3rd Largest Position

M. Kraus & Co decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,013 shares of the information services provider’s stock after selling 736 shares during the period. Alphabet makes up approximately 5.4% of M. Kraus & Co’s holdings, making the stock its 3rd biggest position. M. Kraus & Co’s holdings in Alphabet were worth $18,451,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. ACT Advisors LLC. increased its position in shares of Alphabet by 3.5% during the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after purchasing an additional 55 shares during the last quarter. LongView Wealth Management lifted its position in Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after buying an additional 56 shares during the last quarter. Kooman & Associates boosted its stake in Alphabet by 1.4% during the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after buying an additional 56 shares during the period. Colton Groome Financial Advisors LLC boosted its stake in Alphabet by 3.4% during the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock worth $309,000 after buying an additional 57 shares during the period. Finally, Brueske Advisory Services LLC increased its position in shares of Alphabet by 2.7% during the second quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider’s stock valued at $389,000 after acquiring an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. TD Cowen upped their price objective on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Pivotal Research upped their price target on Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Scotiabank boosted their price objective on Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 22nd. Finally, Lake Street Capital reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $241.00.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 953 shares of Alphabet stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer directly owned 17,294 shares of the company’s stock, valued at approximately $4,171,312.80. The trade was a 5.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 103 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the transaction, the director owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 276,338 shares of company stock worth $59,062,683. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $237.49 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market cap of $2.87 trillion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. The stock’s 50-day moving average is $226.97 and its two-hundred day moving average is $189.99. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter last year, the business posted $1.89 EPS. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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 $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet’s dividend payout ratio is currently 8.95%.

About Alphabet

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.