Mutual Advisors LLC Buys 13,052 Shares of Alphabet Inc. $GOOG

Mutual Advisors LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 11.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,271 shares of the information services provider’s stock after buying an additional 13,052 shares during the quarter. Alphabet comprises 0.6% of Mutual Advisors LLC’s portfolio, making the stock its 22nd biggest holding. Mutual Advisors LLC’s holdings in Alphabet were worth $25,283,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 243,372 shares of company stock worth $55,110,740 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GOOG shares. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Raymond James Financial restated an “outperform” rating and set a $210.00 price target (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Oppenheimer reiterated an “outperform” rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday, September 3rd. Finally, Robert W. Baird lifted their target price on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $244.68.

Alphabet Price Performance

Shares of GOOG stock opened at $253.79 on Friday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $257.58. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $3.07 trillion, a P/E ratio of 27.03, a P/E/G ratio of 1.71 and a beta of 1.00. The stock has a 50 day moving average price of $232.18 and a 200 day moving average price of $192.97.

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, topping 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 firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same period last year, the company earned $1.89 EPS. Alphabet’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

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.