Soundwatch Capital LLC Makes New $111,000 Investment in Alphabet Inc. $GOOG

Soundwatch Capital LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the second quarter, HoldingsChannel reports. The institutional investor bought 626,745 shares of the information services provider’s stock, valued at approximately $111,000.

Other large investors have also recently modified their holdings of the company. Enterprise Financial Services Corp grew its stake in Alphabet by 1.5% in the second quarter. Enterprise Financial Services Corp now owns 9,109 shares of the information services provider’s stock worth $1,616,000 after purchasing an additional 134 shares in the last quarter. Nemes Rush Group LLC lifted its holdings in shares of Alphabet by 70.3% in the 2nd quarter. Nemes Rush Group LLC now owns 23,569 shares of the information services provider’s stock worth $4,181,000 after buying an additional 9,732 shares during the period. Pettyjohn Wood & White Inc. grew its position in shares of Alphabet by 12.3% during the 2nd quarter. Pettyjohn Wood & White Inc. now owns 18,603 shares of the information services provider’s stock worth $3,300,000 after buying an additional 2,036 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in shares of Alphabet by 3.9% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 296,704 shares of the information services provider’s stock worth $52,632,000 after buying an additional 11,129 shares in the last quarter. Finally, Aspiring Ventures LLC increased its stake in shares of Alphabet by 9.8% during the second quarter. Aspiring Ventures LLC now owns 1,719 shares of the information services provider’s stock valued at $305,000 after buying an additional 154 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent research reports. Rosenblatt Securities set a $279.00 target price on shares of Alphabet in a report on Thursday, October 30th. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. BMO Capital Markets reiterated an “outperform” rating and set a $340.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Finally, Sanford C. Bernstein upped their target price on Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Seven 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $324.81.

Alphabet Stock Performance

Shares of GOOG opened at $299.65 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a 50-day moving average of $262.98 and a two-hundred day moving average of $214.24. The stock has a market cap of $3.62 trillion, a P/E ratio of 29.55, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a one year low of $142.66 and a one year high of $306.89.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same period last year, the business posted $2.12 earnings per share. The company’s revenue for the quarter 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 Dividend Announcement

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

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 112 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares in the company, valued at $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the sale, the director directly owned 4,516 shares in the company, valued at approximately $1,264,750.96. The trade was a 11.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 227,952 shares of company stock valued at $58,896,009 over the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Company 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.