Mitchell Sinkler & Starr PA Buys 1,590 Shares of Alphabet Inc. (NASDAQ:GOOG)

Mitchell Sinkler & Starr PA grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 42.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,310 shares of the information services provider’s stock after buying an additional 1,590 shares during the quarter. Mitchell Sinkler & Starr PA’s holdings in Alphabet were worth $961,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter worth $4,101,040,000. JPMorgan Chase & Co. grew its stake in shares of Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after purchasing an additional 13,876,534 shares during the last quarter. Swedbank AB bought a new stake in shares of Alphabet in the first quarter worth $1,378,708,000. Capital International Investors grew its stake in shares of Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after purchasing an additional 7,470,042 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Alphabet by 51.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after purchasing an additional 2,190,795 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on GOOG. Oppenheimer boosted their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $182.86.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The disclosure for this sale can be found here. Insiders sold 201,867 shares of company stock valued at $34,218,581 in the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $158.37 on Friday. 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 firm has a market capitalization of $1.95 trillion, a P/E ratio of 24.29, a P/E/G ratio of 1.13 and a beta of 1.04. The firm’s 50-day moving average price is $169.06 and its 200-day moving average price is $165.96.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the prior year, the firm posted $1.44 EPS. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Alphabet 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.