Verde Capital Management Has $3.66 Million Stake in Alphabet Inc. $GOOG

Verde Capital Management increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 20,650 shares of the information services provider’s stock after acquiring an additional 984 shares during the period. Alphabet accounts for about 0.9% of Verde Capital Management’s holdings, making the stock its 22nd largest position. Verde Capital Management’s holdings in Alphabet were worth $3,663,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. JDM Financial Group LLC lifted its holdings in shares of Alphabet by 10.6% during the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock worth $113,000 after buying an additional 57 shares during the last quarter. NCM Capital Management LLC increased its position in Alphabet by 2.2% during the first quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider’s stock worth $438,000 after acquiring an additional 60 shares during the period. Faithward Advisors LLC increased its position in Alphabet by 2.5% during the first quarter. Faithward Advisors LLC now owns 2,505 shares of the information services provider’s stock worth $391,000 after acquiring an additional 61 shares during the period. Objectivity Squared LLC increased its position in Alphabet by 0.4% during the first quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider’s stock worth $2,605,000 after acquiring an additional 62 shares during the period. Finally, Tranquility Partners LLC increased its position in Alphabet by 0.4% during the first quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock worth $2,263,000 after acquiring an additional 63 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $241.38 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $2.92 trillion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $242.57. The business has a 50 day simple moving average of $202.67 and a 200 day simple moving average of $178.86.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet’s revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company earned $1.89 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is presently 8.95%.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. The trade was a 12.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,710 shares of company stock worth $49,208,380. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Scotiabank boosted their target price on shares of Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. raised their price objective on Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $227.56.

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.