Grey Fox Wealth Advisors LLC Increases Holdings in Alphabet Inc. $GOOG

Grey Fox Wealth Advisors LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 43.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,548 shares of the information services provider’s stock after purchasing an additional 1,367 shares during the period. Grey Fox Wealth Advisors LLC’s holdings in Alphabet were worth $807,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOG. Brighton Jones LLC grew its position in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares in the last quarter. Riversedge Advisors LLC grew its holdings in Alphabet by 3.1% during the 1st quarter. Riversedge Advisors LLC now owns 5,871 shares of the information services provider’s stock valued at $917,000 after purchasing an additional 174 shares in the last quarter. Stillwater Wealth Management Group grew its holdings in Alphabet by 2.6% during the 1st quarter. Stillwater Wealth Management Group now owns 15,038 shares of the information services provider’s stock valued at $2,349,000 after purchasing an additional 375 shares in the last quarter. Berbice Capital Management LLC increased its stake in Alphabet by 4.9% during the 1st quarter. Berbice Capital Management LLC now owns 15,040 shares of the information services provider’s stock worth $2,350,000 after buying an additional 700 shares during the period. Finally, Coyle Financial Counsel LLC lifted its holdings in Alphabet by 1.3% in the 1st quarter. Coyle Financial Counsel LLC now owns 9,684 shares of the information services provider’s stock worth $1,513,000 after buying an additional 123 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $279.70 on Friday. 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 company has a market capitalization of $3.38 trillion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $291.93. The business has a 50 day simple moving average of $251.81 and a 200-day simple moving average of $205.49.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter in the previous year, the company posted $2.12 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given 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 is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. Wolfe Research raised their target price on Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. KeyCorp restated an “overweight” rating and set a $330.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Mizuho set a $325.00 target price on Alphabet in a research report on Thursday, October 30th. Finally, Scotiabank set a $336.00 price target on shares of Alphabet and gave the stock a “sector outperform” rating in a research report on Thursday, October 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $324.81.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00. Following the sale, the chief executive officer owned 2,337,119 shares of the company’s stock, valued at approximately $662,526,494.12. This trade represents a 1.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 222,396 shares of company stock valued at $54,105,275 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

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.