Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Grandfield & Dodd LLC

Grandfield & Dodd LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,760 shares of the information services provider’s stock after purchasing an additional 130 shares during the period. Grandfield & Dodd LLC’s holdings in Alphabet were worth $3,638,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GOOG. Abich Financial Wealth Management LLC increased its position in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet in the second quarter valued at approximately $37,000. HWG Holdings LP acquired a new position in Alphabet during the second quarter worth $40,000. Sanctuary Wealth Management L.L.C. raised 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 acquiring an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP acquired a new stake in Alphabet in the second quarter valued at $44,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on GOOG. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Barclays increased their price objective on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Stock Performance

Shares of GOOG stock opened at $179.58 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The company has a 50 day moving average price of $168.15 and a 200 day moving average price of $171.87.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the prior year, the firm posted $1.55 EPS. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Activity

In other news, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This trade represents a 35.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,295 shares of company stock valued at $30,698,791 in the last three months. Corporate insiders own 12.99% of the company’s stock.

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.