Ted Buchan & Co Acquires Shares of 15,972 Alphabet Inc. (NASDAQ:GOOG)

Ted Buchan & Co acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,972 shares of the information services provider’s stock, valued at approximately $2,930,000. Alphabet comprises 1.6% of Ted Buchan & Co’s investment portfolio, making the stock its 16th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Advisory Alpha LLC increased its stake in Alphabet by 9.2% in the 2nd quarter. Advisory Alpha LLC now owns 15,536 shares of the information services provider’s stock worth $2,850,000 after buying an additional 1,310 shares during the period. IMS Capital Management increased its stake in Alphabet by 4.4% in the 2nd quarter. IMS Capital Management now owns 33,745 shares of the information services provider’s stock worth $5,702,000 after buying an additional 1,426 shares during the period. HWG Holdings LP purchased a new position in Alphabet in the 2nd quarter worth about $40,000. Chase Investment Counsel Corp purchased a new position in Alphabet in the 2nd quarter worth about $227,000. Finally, EP Wealth Advisors LLC increased its stake in Alphabet by 6.4% in the 2nd quarter. EP Wealth Advisors LLC now owns 209,330 shares of the information services provider’s stock worth $38,395,000 after buying an additional 12,637 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet 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 sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet 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 sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 216,225 shares of company stock worth $36,134,681. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.1 %

NASDAQ:GOOG opened at $167.19 on Tuesday. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 25.64, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company’s 50-day simple moving average is $164.02 and its 200-day simple moving average is $168.32.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $84.22 billion. During the same period last year, the business earned $1.44 EPS. The company’s revenue was up 13.6% compared to the same quarter last year. On average, equities analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Analysts Set New Price Targets

GOOG has been the topic of several recent analyst reports. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. TD Cowen raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Oppenheimer cut their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $179.29.

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.