3Chopt Investment Partners LLC Acquires 2,358 Shares of Alphabet Inc. (NASDAQ:GOOG)

3Chopt Investment Partners LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,158 shares of the information services provider’s stock after purchasing an additional 2,358 shares during the quarter. Alphabet makes up about 2.8% of 3Chopt Investment Partners LLC’s portfolio, making the stock its 5th biggest holding. 3Chopt Investment Partners LLC’s holdings in Alphabet were worth $9,017,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. JPMorgan Chase & Co. boosted its stake in Alphabet by 19.7% during 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 purchasing an additional 13,876,534 shares during the last quarter. Swedbank AB acquired a new position in shares of Alphabet during the 1st quarter valued at about $1,378,708,000. Capital International Investors boosted its position in shares of Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after acquiring an additional 7,470,042 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position 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 acquiring an additional 2,190,795 shares during the last quarter. Finally, Vima LLC boosted its position in shares of Alphabet by 178,253.1% during the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after acquiring an additional 2,000,000 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 1.1 %

Shares of GOOG opened at $167.19 on Tuesday. The firm has a market cap of $2.07 trillion, a P/E ratio of 25.64, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company’s 50-day moving average price is $164.02 and its 200 day moving average price is $168.32. 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 (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, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current 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 paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, insider John Kent Walker sold 16,802 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the sale, the insider now directly owns 43,999 shares in the company, valued at $7,280,514.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The disclosure for this sale can be found here. Insiders have sold 216,225 shares of company stock worth $36,134,681 over the last three months. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GOOG. Rosenblatt Securities cut 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. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Oppenheimer lowered their price target 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. Finally, Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research 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 data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus 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.