Code Waechter LLC Buys Shares of 3,465 Alphabet Inc. (NASDAQ:GOOG)

Code Waechter LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 3,465 shares of the information services provider’s stock, valued at approximately $579,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Harbour Investments Inc. lifted its stake in Alphabet by 14.3% during the fourth quarter. Harbour Investments Inc. now owns 40,208 shares of the information services provider’s stock valued at $5,667,000 after purchasing an additional 5,018 shares during the last quarter. Oarsman Capital Inc. lifted its position in shares of Alphabet by 0.9% during the 4th quarter. Oarsman Capital Inc. now owns 79,773 shares of the information services provider’s stock valued at $11,242,000 after acquiring an additional 711 shares during the last quarter. CMG Global Holdings LLC acquired a new position in shares of Alphabet in the 4th quarter worth $218,000. Sanibel Captiva Trust Company Inc. acquired a new position in shares of Alphabet in the 4th quarter worth $94,258,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $477,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.8 %

GOOG stock traded up $1.34 during mid-day trading on Friday, hitting $164.52. The stock had a trading volume of 10,945,971 shares, compared to its average volume of 19,793,420. The stock has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The company has a fifty day moving average of $162.81 and a 200 day moving average of $169.13.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the prior year, the business posted $1.44 earnings per share. The business’s quarterly revenue was up 13.6% on a year-over-year basis. On average, equities analysts expect that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s payout ratio is currently 11.48%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GOOG. Oppenheimer dropped their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Scotiabank started coverage on shares of Alphabet in a research report on Friday. They issued a “sector outperform” rating and a $212.00 price target for the company. Pivotal Research initiated coverage on shares of Alphabet in a research report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price objective on the stock. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Finally, TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $186.90.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 216,092 shares of company stock worth $35,644,136 over the last 90 days. 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.