Alphabet Inc. $GOOG is Parker Investment Management LLC’s 5th Largest Position

Parker Investment Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 215,657 shares of the information services provider’s stock after selling 1,320 shares during the quarter. Alphabet accounts for approximately 5.3% of Parker Investment Management LLC’s holdings, making the stock its 5th biggest holding. Parker Investment Management LLC’s holdings in Alphabet were worth $38,255,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. RDA Financial Network grew its stake in Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after purchasing an additional 554 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in Alphabet by 1.4% in the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after acquiring an additional 2,304 shares in the last quarter. Oldfather Financial Services LLC acquired a new stake in Alphabet in the second quarter valued at approximately $213,000. Tower View Wealth Management LLC grew its holdings in Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after purchasing an additional 1,776 shares during the last quarter. Finally, Dock Street Asset Management Inc. increased its position in shares of Alphabet by 0.8% during the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after purchasing an additional 1,970 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $276.98 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $292.36. The business’s 50 day moving average price is $257.84 and its 200 day moving average price is $209.82. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.34 trillion, a P/E ratio of 27.32, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same period in the prior year, the firm earned $2.12 EPS. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 221,796 shares of company stock worth $53,983,001. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of recent analyst reports. Sanford C. Bernstein raised their price objective on Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Cantor Fitzgerald set a $310.00 price target on Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 30th. KeyCorp restated an “overweight” rating and set a $330.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Canaccord Genuity Group restated a “buy” rating and set a $330.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $340.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Six research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $324.81.

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.