990 Shares in Alphabet Inc. (NASDAQ:GOOG) Purchased by Morse Asset Management Inc

Morse Asset Management Inc acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 990 shares of the information services provider’s stock, valued at approximately $166,000.

Other large investors have also added to or reduced their stakes in the company. BDF Gestion purchased a new position in shares of Alphabet in the second quarter worth about $44,610,000. CCM Investment Advisers LLC purchased a new position in shares of Alphabet in the second quarter worth about $223,000. OLD National Bancorp IN increased its stake in shares of Alphabet by 3.4% in the second quarter. OLD National Bancorp IN now owns 38,934 shares of the information services provider’s stock worth $7,141,000 after purchasing an additional 1,285 shares in the last quarter. CHICAGO TRUST Co NA increased its stake in shares of Alphabet by 3.7% in the second quarter. CHICAGO TRUST Co NA now owns 38,027 shares of the information services provider’s stock worth $6,975,000 after purchasing an additional 1,359 shares in the last quarter. Finally, Shira Ridge Wealth Management increased its stake in shares of Alphabet by 0.4% in the second quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock worth $2,841,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.8 %

GOOG stock opened at $176.09 on Thursday. The company has a market capitalization of $2.16 trillion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 1.21 and a beta of 1.02. Alphabet Inc. has a one year low of $129.73 and a one year high of $193.31. The company’s 50 day moving average price is $170.63 and its two-hundred day moving average price is $171.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period last year, the firm posted $1.55 earnings per share. The business’s revenue was up 15.1% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group raised their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Pivotal Research raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group raised their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The trade was a 8.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the transaction, the director now directly owns 28,524 shares in the company, valued at approximately $4,385,565. The trade was a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 163,624 shares of company stock valued at $27,803,730 over the last three months. 12.99% of the stock is owned by company insiders.

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.