Alphabet Inc. (NASDAQ:GOOG) Stake Lifted by DSM Capital Partners LLC

DSM Capital Partners LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 407.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 914 shares of the information services provider’s stock after buying an additional 734 shares during the quarter. DSM Capital Partners LLC’s holdings in Alphabet were worth $168,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Twelve Points Wealth Management LLC increased its position in Alphabet by 0.7% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after purchasing an additional 55 shares during the last quarter. PCG Wealth Advisors LLC grew its stake in shares of Alphabet by 3.1% in the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after buying an additional 57 shares in the last quarter. Investment Advisory Services Inc. TX ADV increased its holdings in Alphabet by 1.6% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after buying an additional 57 shares during the last quarter. Advisors Management Group Inc. ADV raised its position in Alphabet by 2.0% during the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after acquiring an additional 58 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC grew its position in Alphabet by 11.1% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after acquiring an additional 60 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of recent research reports. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Oppenheimer decreased their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. TD Cowen boosted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Rosenblatt Securities lowered shares of 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. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given 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 target price of $179.29.

Alphabet Stock Down 0.4 %

Shares of GOOG stock opened at $162.99 on Thursday. The stock has a 50 day moving average of $165.32 and a 200-day moving average of $167.65. The firm has a market cap of $2.01 trillion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (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 company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the previous year, the firm posted $1.44 EPS. The business’s revenue was up 13.6% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now directly owns 27,824 shares in the company, valued at $4,590,960. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 203,367 shares of company stock worth $34,079,756. 12.99% of the stock is currently owned by company insiders.

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.