Claro Advisors LLC Has $6.12 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Claro Advisors LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 9.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 36,613 shares of the information services provider’s stock after purchasing an additional 3,033 shares during the quarter. Alphabet accounts for approximately 0.8% of Claro Advisors LLC’s portfolio, making the stock its 22nd largest position. Claro Advisors LLC’s holdings in Alphabet were worth $6,121,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in GOOG. Abich Financial Wealth Management LLC boosted its position in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Alphabet during the second quarter valued at $37,000. HWG Holdings LP bought a new position in Alphabet in the second quarter valued at about $40,000. Sanctuary Wealth Management L.L.C. increased its position in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the period. Finally, Slocum Gordon & Co LLP bought a new stake in Alphabet during the 2nd quarter worth about $44,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 2.0 %

NASDAQ:GOOG opened at $173.89 on Friday. The company has a market cap of $2.13 trillion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The business has a 50 day moving average price of $167.01 and a two-hundred day moving average price of $171.70. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its 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 business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. The firm’s revenue was up 15.1% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. 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 dividend payout ratio is currently 10.61%.

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent research reports. Scotiabank initiated coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Barclays upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. UBS Group raised their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer upped 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. Five investment 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. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $200.56.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The trade was a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,795 shares of company stock worth $34,471,141. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

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.