Alphabet Inc. $GOOG Shares Bought by Dock Street Asset Management Inc.

Dock Street Asset Management Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 234,306 shares of the information services provider’s stock after acquiring an additional 1,970 shares during the quarter. Alphabet accounts for about 3.9% of Dock Street Asset Management Inc.’s holdings, making the stock its 9th biggest position. Dock Street Asset Management Inc.’s holdings in Alphabet were worth $41,563,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOG. Kingstone Capital Partners Texas LLC boosted its position in shares of Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after buying an additional 135,064,454 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Alphabet in the 1st quarter worth about $2,622,943,000. Vanguard Group Inc. boosted its position in shares of Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Alphabet in the 1st quarter worth about $369,713,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 0.8%

Shares of GOOG stock opened at $253.79 on Friday. The firm has a 50-day moving average price of $232.18 and a 200 day moving average price of $192.97. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $257.58. The company has a market capitalization of $3.07 trillion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.71 and a beta of 1.00. 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 (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the prior year, the company posted $1.89 EPS. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. Research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date 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 presently 8.95%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares in the company, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 243,372 shares of company stock worth $55,110,740. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of several recent research reports. Scotiabank reiterated an “outperform” rating and issued a $310.00 price objective on shares of Alphabet in a research report on Thursday. Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. TD Cowen boosted their price objective on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Piper Sandler reissued a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, UBS Group set a $255.00 target price on shares of Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 9th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.68.

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.