Hanlon Investment Management Inc. Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Hanlon Investment Management Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,499 shares of the information services provider’s stock after acquiring an additional 199 shares during the period. Hanlon Investment Management Inc.’s holdings in Alphabet were worth $418,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GOOG. Abich Financial Wealth Management LLC boosted its holdings in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Alphabet in the 2nd quarter valued at approximately $37,000. HWG Holdings LP acquired a new position in Alphabet during the 2nd quarter worth approximately $40,000. Slocum Gordon & Co LLP purchased a new position in shares of Alphabet during the 2nd quarter worth approximately $44,000. Finally, Hoese & Co LLP lifted its holdings in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after buying an additional 100 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 0.4 %

Shares of GOOG opened at $171.41 on Wednesday. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. The stock has a fifty day moving average of $163.97 and a two-hundred day moving average of $170.83. 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 company has a market capitalization of $2.11 trillion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.97 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Analysts Set New Price Targets

GOOG has been the subject of several research analyst reports. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. 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 note on Wednesday, October 30th. UBS Group boosted their price objective on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Five equities 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 a consensus rating of “Moderate Buy” and an average price target of $200.56.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the completion of the sale, the director now directly owns 30,024 shares in the company, valued at $4,894,812.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the completion of the sale, the director now owns 30,024 shares of the company’s stock, valued at approximately $4,894,812.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 209,552 shares of company stock worth $34,433,848 in the last quarter. 12.99% of the stock is owned by 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.