ZEGA Investments LLC Raises Holdings in Alphabet Inc. $GOOG

ZEGA Investments LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 34.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,911 shares of the information services provider’s stock after acquiring an additional 9,227 shares during the quarter. Alphabet comprises about 0.9% of ZEGA Investments LLC’s portfolio, making the stock its 13th biggest position. ZEGA Investments LLC’s holdings in Alphabet were worth $6,370,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of GOOG. REDW Wealth LLC boosted its holdings in Alphabet by 2.3% in the second quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock worth $428,000 after acquiring an additional 54 shares in the last quarter. ACT Advisors LLC. raised its position in shares of Alphabet by 3.5% in the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after purchasing an additional 55 shares during the last quarter. Moser Wealth Advisors LLC boosted its stake in Alphabet by 2.2% in the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after purchasing an additional 55 shares in the last quarter. LongView Wealth Management raised its holdings in shares of Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after buying an additional 56 shares during the last quarter. Finally, Kooman & Associates grew its holdings in shares of Alphabet by 1.4% during the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after buying an additional 56 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 2.0%

Shares of GOOG opened at $279.70 on Monday. 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 $3.38 trillion, a P/E ratio of 27.58, a PEG ratio of 1.86 and a beta of 1.05. The stock’s 50 day moving average is $251.81 and its two-hundred day moving average is $205.83. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $291.93.

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

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is 8.28%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GOOG. Sanford C. Bernstein increased their price objective on Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. TD Cowen upped their price objective on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Mizuho set a $325.00 target price on Alphabet in a research note on Thursday, October 30th. Finally, Jefferies Financial Group boosted their price target on Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the transaction, the director directly owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This trade represents a 10.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the transaction, the director directly owned 18,004 shares in the company, valued at $5,253,567.20. This trade represents a 0.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 222,396 shares of company stock valued at $54,105,275. Corporate insiders own 12.99% of the company’s stock.

Alphabet Company 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.