Alphabet Inc. $GOOG Shares Acquired by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 78,179 shares of the information services provider’s stock after purchasing an additional 4,086 shares during the quarter. Alphabet makes up 0.9% of Woodmont Investment Counsel LLC’s investment portfolio, making the stock its 29th largest position. Woodmont Investment Counsel LLC’s holdings in Alphabet were worth $13,868,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GOOG. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet during the first quarter valued at $26,000. IFS Advisors LLC grew its holdings in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares in the last quarter. Robbins Farley grew its holdings in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after buying an additional 60 shares in the last quarter. Goodman Advisory Group LLC purchased a new position in shares of Alphabet during the first quarter valued at $32,000. Finally, Greykasell Wealth Strategies Inc. purchased a new position in Alphabet in the first quarter valued at about $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the transaction, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 103 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the transaction, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 276,738 shares of company stock valued at $59,135,475. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $247.13 on Wednesday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. The business has a 50-day moving average of $224.07 and a two-hundred day moving average of $188.32. The stock has a market capitalization of $2.99 trillion, a P/E ratio of 26.32, a P/E/G ratio of 1.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 8.95%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Robert W. Baird boosted their target price on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Oppenheimer restated an “outperform” rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Finally, KeyCorp set a $265.00 target price on Alphabet in a research note on Wednesday, September 3rd. Five analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $235.33.

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.