Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Modus Advisors LLC

Modus Advisors LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 39,498 shares of the information services provider’s stock after buying an additional 557 shares during the quarter. Alphabet comprises about 2.2% of Modus Advisors LLC’s holdings, making the stock its 12th biggest position. Modus Advisors LLC’s holdings in Alphabet were worth $6,604,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Richardson Financial Services Inc. bought a new stake in Alphabet during the fourth quarter worth approximately $34,000. Abich Financial Wealth Management LLC grew its holdings in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in Alphabet in the second quarter valued at about $37,000. HWG Holdings LP bought a new position in Alphabet in the second quarter valued at about $40,000. Finally, Slocum Gordon & Co LLP bought a new position in Alphabet during the second quarter worth about $44,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Up 0.4 %

NASDAQ GOOG traded up $0.68 during trading hours on Thursday, hitting $163.74. 4,381,155 shares of the company’s stock were exchanged, compared to its average volume of 19,795,133. The stock has a 50-day simple moving average of $163.07 and a 200 day simple moving average of $169.07. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The firm has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.03, a PEG ratio of 1.21 and a beta of 1.04. 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 announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS 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 firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter last year, the firm posted $1.44 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, equities analysts forecast that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity

In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now owns 30,824 shares in the company, valued at $5,728,640.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale 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 Alphabet stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 217,592 shares of company stock worth $35,922,911 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. UBS Group dropped their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday. Oppenheimer decreased their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. Pivotal Research started coverage on Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price objective on the stock. TD Cowen upped their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.11.

Alphabet Company 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.