Alphabet Inc. $GOOG Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,707,028 shares of the information services provider’s stock after purchasing an additional 65,736 shares during the quarter. Alphabet accounts for 1.8% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 9th biggest holding. Los Angeles Capital Management LLC’s holdings in Alphabet were worth $480,200,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of GOOG. RDA Financial Network raised its holdings in Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after purchasing an additional 554 shares in the last quarter. Bleakley Financial Group LLC increased its position in Alphabet by 1.4% during the 2nd quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after purchasing an additional 2,304 shares during the period. Oldfather Financial Services LLC purchased a new position in shares of Alphabet during the 2nd quarter worth approximately $213,000. Tower View Wealth Management LLC lifted its holdings in shares of Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after buying an additional 1,776 shares during the period. Finally, Dock Street Asset Management Inc. boosted its stake in shares of Alphabet by 0.8% in the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after buying an additional 1,970 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. UBS Group reiterated a “neutral” rating on shares of Alphabet in a research report on Thursday, October 30th. Robert W. Baird raised their price objective on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Rosenblatt Securities set a $279.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Cowen reaffirmed a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Finally, Pivotal Research boosted their price target on Alphabet from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Five research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 222,396 shares of company stock valued at $54,105,275 over the last three months. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Down 2.0%

Shares of NASDAQ GOOG opened at $279.70 on Monday. The firm’s 50-day moving average is $251.81 and its two-hundred day moving average is $205.83. The company has a market capitalization of $3.38 trillion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $291.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last issued 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. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same period last year, the company posted $2.12 EPS. The company’s revenue was up 15.9% on a year-over-year basis. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a $0.21 dividend. 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 payout ratio is 8.28%.

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.