D.B. Root & Company LLC Purchases 448 Shares of Alphabet Inc. $GOOG

D.B. Root & Company LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 23.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,389 shares of the information services provider’s stock after purchasing an additional 448 shares during the quarter. D.B. Root & Company LLC’s holdings in Alphabet were worth $424,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOOG. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet during the first quarter valued at about $26,000. IFS Advisors LLC increased 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 acquiring an additional 120 shares in the last quarter. Robbins Farley increased 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 acquiring an additional 60 shares in the last quarter. Goodman Advisory Group LLC acquired a new position in shares of Alphabet during the first quarter valued at about $32,000. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet during the first quarter valued at about $32,000. 27.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director owned 5,716 shares in the company, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. This represents a 1.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 276,738 shares of company stock worth $59,135,475. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent analyst reports. Roth Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Jefferies Financial Group upped their price objective on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Barclays reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $237.68.

Alphabet Trading Down 0.7%

Alphabet stock opened at $245.46 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The stock’s 50 day simple moving average is $225.03 and its two-hundred day simple moving average is $188.71. The firm has a market cap of $2.97 trillion, a PE ratio of 26.14, a P/E/G ratio of 1.67 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the prior year, the firm posted $1.89 EPS. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

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.