Trek Financial LLC Buys 26,988 Shares of Alphabet Inc. $GOOG

Trek Financial LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 36.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,823 shares of the information services provider’s stock after purchasing an additional 26,988 shares during the quarter. Alphabet accounts for about 1.2% of Trek Financial LLC’s holdings, making the stock its 16th biggest holding. Trek Financial LLC’s holdings in Alphabet were worth $18,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. RDA Financial Network boosted its holdings in Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after acquiring an additional 554 shares during the period. Bleakley Financial Group LLC lifted its position 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 purchasing an additional 2,304 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Alphabet by 3.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,164,341 shares of the information services provider’s stock valued at $206,542,000 after purchasing an additional 42,028 shares during the period. Tower View Wealth Management LLC boosted its stake in shares of Alphabet by 6.9% during the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after purchasing an additional 1,776 shares during the period. Finally, Oldfather Financial Services LLC bought a new position in shares of Alphabet in the second quarter worth approximately $213,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the transaction, the chief accounting officer owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This trade represents a 16.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the transaction, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. The trade was a 1.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 196,406 shares of company stock valued at $51,743,408. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG opened at $316.02 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The company has a market cap of $3.81 trillion, a price-to-earnings ratio of 31.17, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07. The stock has a fifty day simple moving average of $272.34 and a two-hundred day simple moving average of $222.44. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $328.67.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.12 EPS. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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 issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GOOG shares. BMO Capital Markets reiterated an “outperform” rating and set a $340.00 price target on shares of Alphabet in a report on Thursday, October 30th. Bank of America boosted their price objective on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. HSBC reaffirmed a “buy” rating and set a $335.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Canaccord Genuity Group reissued a “buy” rating and issued a $330.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Finally, Cowen reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $307.22.

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.