Beck Capital Management LLC Buys 1,030 Shares of Alphabet Inc. (NASDAQ:GOOG)

Beck Capital Management LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,247 shares of the information services provider’s stock after purchasing an additional 1,030 shares during the period. Alphabet accounts for approximately 1.3% of Beck Capital Management LLC’s portfolio, making the stock its 22nd largest holding. Beck Capital Management LLC’s holdings in Alphabet were worth $4,814,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after acquiring an additional 13,876,534 shares during the last quarter. Swedbank AB bought a new position in Alphabet during the first quarter worth about $1,378,708,000. Capital International Investors increased 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Alphabet by 51.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock valued at $976,923,000 after buying an additional 2,190,795 shares in the last quarter. Finally, Vima LLC boosted its holdings in Alphabet by 178,253.1% in the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock worth $304,691,000 after buying an additional 2,000,000 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Alphabet stock opened at $164.64 on Monday. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. 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 stock has a market cap of $2.03 trillion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The firm’s fifty day moving average price is $166.26 and its 200-day moving average price is $167.26.

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 return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter last year, the business posted $1.44 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, equities research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared 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. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the sale, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the transaction, the chief executive officer now owns 2,114,885 shares in the company, valued at $339,713,977.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,667 shares of company stock valued at $33,964,256. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GOOG has been the topic of a number of analyst reports. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday, June 28th. Finally, Oppenheimer raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Three 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $182.86.

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.