Rosenberg Matthew Hamilton Boosts Stake in Alphabet Inc. $GOOG

Rosenberg Matthew Hamilton raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,426 shares of the information services provider’s stock after buying an additional 226 shares during the quarter. Alphabet comprises about 0.5% of Rosenberg Matthew Hamilton’s holdings, making the stock its 25th largest position. Rosenberg Matthew Hamilton’s holdings in Alphabet were worth $2,027,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. RDA Financial Network lifted its stake 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 during the last quarter. Tower View Wealth Management LLC lifted its stake in Alphabet by 6.9% during the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after purchasing an additional 1,776 shares during the last quarter. Oldfather Financial Services LLC bought a new stake in Alphabet during the second quarter worth about $213,000. Truist Financial Corp lifted its stake in Alphabet by 0.4% during the second quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock worth $643,381,000 after purchasing an additional 15,065 shares during the last quarter. Finally, GC Wealth Management RIA LLC lifted its stake in Alphabet by 115.7% during the second quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock worth $38,031,000 after purchasing an additional 115,003 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 243,372 shares of company stock worth $55,110,740 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Up 0.8%

NASDAQ GOOG opened at $253.79 on Friday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $257.58. 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 stock has a 50-day moving average of $232.18 and a 200-day moving average of $192.97. The firm has a market cap of $3.07 trillion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00.

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

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is currently 8.95%.

Analyst Ratings Changes

GOOG has been the subject of several research analyst reports. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. BNP Paribas lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Scotiabank reissued an “outperform” rating and issued a $310.00 target price on shares of Alphabet in a research note on Thursday. Finally, KeyCorp set a $265.00 target price on Alphabet in a research note on Wednesday, September 3rd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $244.68.

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.