Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Running Point Capital Advisors LLC

Running Point Capital Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 29.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,047 shares of the information services provider’s stock after acquiring an additional 240 shares during the quarter. Running Point Capital Advisors LLC’s holdings in Alphabet were worth $175,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its position in shares of Alphabet by 360.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock valued at $3,083,000 after buying an additional 15,848 shares during the last quarter. Quent Capital LLC raised its holdings in shares of Alphabet by 5.8% in the first quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock valued at $4,980,000 after buying an additional 1,798 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Alphabet by 27.1% during the 1st quarter. Advisors Asset Management Inc. now owns 10,645 shares of the information services provider’s stock worth $1,621,000 after acquiring an additional 2,269 shares during the period. Westwood Holdings Group Inc. grew its position in Alphabet by 7.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 212,491 shares of the information services provider’s stock valued at $32,354,000 after buying an additional 13,884 shares during the last quarter. Finally, K2 Principal Fund L.P. acquired a new stake in shares of Alphabet in the 1st quarter worth $228,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 approximately $4,421,948.46. This trade represents a 8.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,295 shares of company stock valued at $30,698,791. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $177.33 on Thursday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a 50-day simple moving average of $168.65 and a 200 day simple moving average of $171.91. The company has a market cap of $2.17 trillion, a PE ratio of 23.52, a P/E/G ratio of 1.26 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the business earned $1.55 earnings per share. Alphabet’s revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. Alphabet’s dividend payout ratio is presently 10.61%.

Analysts Set New Price Targets

GOOG has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, Citigroup increased their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $200.56.

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.