Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Kovack Advisors Inc.

Kovack Advisors Inc. boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,858 shares of the information services provider’s stock after purchasing an additional 1,118 shares during the quarter. Alphabet comprises approximately 0.7% of Kovack Advisors Inc.’s portfolio, making the stock its 26th biggest position. Kovack Advisors Inc.’s holdings in Alphabet were worth $6,497,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GOOG. Parthenon LLC boosted its holdings in shares of Alphabet by 0.4% in the 3rd quarter. Parthenon LLC now owns 139,346 shares of the information services provider’s stock valued at $23,297,000 after buying an additional 551 shares in the last quarter. Pinnacle Financial Partners Inc lifted its position in Alphabet by 0.6% in the third quarter. Pinnacle Financial Partners Inc now owns 306,458 shares of the information services provider’s stock valued at $51,237,000 after acquiring an additional 1,718 shares during the last quarter. Chase Investment Counsel Corp boosted its stake in Alphabet by 8.8% in the third quarter. Chase Investment Counsel Corp now owns 1,353 shares of the information services provider’s stock valued at $226,000 after acquiring an additional 110 shares in the last quarter. Haverford Trust Co grew its holdings in shares of Alphabet by 0.5% during the third quarter. Haverford Trust Co now owns 101,924 shares of the information services provider’s stock worth $17,041,000 after purchasing an additional 520 shares during the last quarter. Finally, Empower Advisory Group LLC increased its position in shares of Alphabet by 0.8% during the third quarter. Empower Advisory Group LLC now owns 2,029,300 shares of the information services provider’s stock worth $339,279,000 after purchasing an additional 15,667 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.5 %

GOOG opened at $180.49 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31. The stock has a market capitalization of $2.21 trillion, a P/E ratio of 23.94, a P/E/G ratio of 1.29 and a beta of 1.04. The business has a 50 day simple moving average of $165.75 and a 200-day simple moving average of $171.50.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the prior year, the business posted $1.55 earnings per share. Alphabet’s revenue was up 15.1% compared to the same quarter last year. On average, equities analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.44%. Alphabet’s payout ratio is currently 10.61%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares in the company, valued at $56,765,168.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 207,495 shares of company stock valued at $34,586,641. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Pivotal Research upped their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group increased their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

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.