DeDora Capital Inc. Purchases 422 Shares of Alphabet Inc. $GOOG

DeDora Capital Inc. increased its position in Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,162 shares of the information services provider’s stock after purchasing an additional 422 shares during the quarter. Alphabet makes up 1.2% of DeDora Capital Inc.’s portfolio, making the stock its 22nd largest holding. DeDora Capital Inc.’s holdings in Alphabet were worth $4,463,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet during the first quarter valued at $26,000. IFS Advisors LLC lifted 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 during the period. Robbins Farley lifted 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 during the period. WestEnd Advisors LLC lifted its holdings in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the period. Finally, Fairman Group LLC lifted its holdings in shares of Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 97 shares during the period. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GOOG. Jefferies Financial Group lifted their price objective on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Robert W. Baird upped their price target on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, TD Cowen upped their price target 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. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $246.26.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Down 2.2%

Shares of NASDAQ GOOG opened at $251.34 on Wednesday. The firm’s 50-day simple moving average is $234.23 and its 200 day simple moving average is $194.41. The company has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 1.74 and a beta of 1.00. The company has a quick ratio of 1.90, a current 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 $257.88.

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

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.