Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Accredited Investors Inc.

Accredited Investors Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,246 shares of the information services provider’s stock after purchasing an additional 302 shares during the quarter. Accredited Investors Inc.’s holdings in Alphabet were worth $4,890,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Schneider Downs Wealth Management Advisors LP grew its stake in shares of Alphabet by 41.8% in the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 4,941 shares of the information services provider’s stock valued at $826,000 after purchasing an additional 1,457 shares during the last quarter. South Street Advisors LLC lifted its holdings in shares of Alphabet by 12.3% during the third quarter. South Street Advisors LLC now owns 5,465 shares of the information services provider’s stock worth $914,000 after purchasing an additional 600 shares during the period. Heritage Investment Group Inc. grew its position in Alphabet by 166.0% in the 3rd quarter. Heritage Investment Group Inc. now owns 4,812 shares of the information services provider’s stock valued at $805,000 after buying an additional 3,003 shares during the last quarter. RIA Advisory Group LLC acquired a new position in Alphabet in the 3rd quarter valued at $323,000. Finally, Evolution Wealth Advisors LLC raised its position in Alphabet by 1.3% during the 3rd quarter. Evolution Wealth Advisors LLC now owns 57,865 shares of the information services provider’s stock worth $9,673,000 after buying an additional 760 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 2.0 %

Shares of NASDAQ GOOG opened at $173.89 on Friday. The firm’s 50-day moving average is $167.01 and its two-hundred day moving average is $171.70. The company has a market capitalization of $2.13 trillion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. Alphabet Inc. has a 12-month low of $129.40 and a 12-month high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.55 EPS. Equities analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This trade represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,795 shares of company stock worth $34,471,141. 12.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Scotiabank initiated coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. Oppenheimer lifted their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Pivotal Research raised their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

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.