DeDora Capital Inc. Purchases 422 Shares of Alphabet Inc. $GOOG

DeDora Capital Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 25,162 shares of the information services provider’s stock after buying an additional 422 shares during the quarter. Alphabet makes up about 1.2% of DeDora Capital Inc.’s portfolio, making the stock its 22nd largest position. DeDora Capital Inc.’s holdings in Alphabet were worth $4,463,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. RDA Financial Network increased its stake in shares of Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after acquiring an additional 554 shares during the last quarter. Tower View Wealth Management LLC increased its stake 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 acquiring an additional 1,776 shares during the last quarter. Oldfather Financial Services LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at about $213,000. Dock Street Asset Management Inc. increased its stake in shares of Alphabet by 0.8% in the 2nd quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock valued at $41,563,000 after acquiring an additional 1,970 shares during the last quarter. Finally, Truist Financial Corp increased its stake in shares of Alphabet by 0.4% in the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock valued at $643,381,000 after acquiring an additional 15,065 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock valued at $55,805,379 in the last quarter. 12.99% of the stock is currently owned by insiders.

Alphabet Trading Down 2.2%

NASDAQ:GOOG opened at $251.34 on Wednesday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $257.88. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $234.23 and a two-hundred day moving average price of $194.41. The company has a market cap of $3.04 trillion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 1.74 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping 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 firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the prior year, the firm posted $1.89 EPS. The business’s revenue was up 13.8% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research reports. Pivotal Research increased their target price on Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Morgan Stanley increased their target price on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Barclays reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. TD Cowen increased their target price on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $246.26.

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.