Oberndorf William E Invests $9.10 Million in Alphabet Inc. $GOOG

Oberndorf William E purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 51,273 shares of the information services provider’s stock, valued at approximately $9,095,000. Alphabet accounts for 10.1% of Oberndorf William E’s holdings, making the stock its 7th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cordatus Wealth Management LLC grew its position in Alphabet by 8.9% during the second quarter. Cordatus Wealth Management LLC now owns 50,233 shares of the information services provider’s stock worth $8,911,000 after buying an additional 4,103 shares in the last quarter. Senvest Management LLC bought a new stake in Alphabet during the second quarter valued at approximately $1,774,000. Wescott Financial Advisory Group LLC grew its stake in Alphabet by 3.9% in the 2nd quarter. Wescott Financial Advisory Group LLC now owns 2,564 shares of the information services provider’s stock worth $455,000 after buying an additional 97 shares in the last quarter. Purus Wealth Management LLC raised its position in shares of Alphabet by 8.9% during the 2nd quarter. Purus Wealth Management LLC now owns 2,105 shares of the information services provider’s stock valued at $373,000 after buying an additional 172 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC lifted its holdings in shares of Alphabet by 116.0% during the 2nd quarter. Bedell Frazier Investment Counselling LLC now owns 10,123 shares of the information services provider’s stock worth $1,796,000 after acquiring an additional 5,436 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GOOG shares. Canaccord Genuity Group reiterated a “buy” rating and issued a $330.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Jefferies Financial Group upped their price objective on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Barclays lifted their price objective on Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. HSBC restated a “buy” rating and set a $335.00 target price on shares of Alphabet in a report on Thursday, October 30th. Finally, Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Stock Performance

NASDAQ:GOOG opened at $285.60 on Tuesday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $294.52. The stock has a market cap of $3.45 trillion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The firm’s fifty day simple moving average is $258.86 and its 200 day simple moving average is $211.03. 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 (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $99.90 billion. During the same period last year, the business posted $2.12 earnings per share. Alphabet’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00. Following the sale, the chief executive officer directly owned 2,337,119 shares of the company’s stock, valued at approximately $662,526,494.12. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the transaction, the director owned 18,004 shares of the company’s stock, valued at $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 222,396 shares of company stock worth $54,151,037. 12.99% of the stock is currently owned by corporate insiders.

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.