Kelleher Financial Advisors Purchases 2,105 Shares of Alphabet Inc. $GOOG

Kelleher Financial Advisors lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 60,645 shares of the information services provider’s stock after acquiring an additional 2,105 shares during the quarter. Alphabet comprises about 3.7% of Kelleher Financial Advisors’ portfolio, making the stock its 6th biggest holding. Kelleher Financial Advisors’ holdings in Alphabet were worth $10,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFS Advisors LLC grew its holdings in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the period. Robbins Farley increased its holdings in Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC raised its position in Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after acquiring an additional 61 shares during the period. Fairman Group LLC lifted its holdings in Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in shares of Alphabet in the first quarter valued at about $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This represents a 1.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 221,796 shares of company stock valued at $53,983,001. 12.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GOOG shares. Bank of America lifted their price objective on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. TD Cowen increased their target price on shares of Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $340.00 price target on shares of Alphabet in a report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, Phillip Securities upgraded Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, November 7th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Stock Performance

Shares of GOOG stock opened at $287.43 on Thursday. Alphabet Inc. has a one year low of $142.66 and a one year high of $292.36. The firm’s 50 day moving average price is $256.07 and its 200-day moving average price is $208.20. The firm has a market cap of $3.47 trillion, a P/E ratio of 28.35, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

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

Alphabet Dividend Announcement

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

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.