SGL Investment Advisors Inc. Invests $4.56 Million in Alphabet Inc. (NASDAQ:GOOG)

SGL Investment Advisors Inc. acquired a new position in Alphabet Inc. (NASDAQ:GOOG) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 25,697 shares of the information services provider’s stock, valued at approximately $4,557,000. Alphabet accounts for 2.3% of SGL Investment Advisors Inc.’s investment portfolio, making the stock its 16th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Weiss Asset Management LP purchased a new stake in Alphabet in the 3rd quarter worth approximately $25,000. Abich Financial Wealth Management LLC raised its holdings in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares in the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet during the third quarter valued at $33,000. 1620 Investment Advisors Inc. purchased a new position in Alphabet in the second quarter valued at about $37,000. Finally, HWG Holdings LP purchased a new stake in shares of Alphabet during the 2nd quarter worth about $40,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

GOOG opened at $176.49 on Monday. The stock has a market cap of $2.16 trillion, a PE ratio of 23.41, a P/E/G ratio of 1.23 and a beta of 1.02. Alphabet Inc. has a 1 year low of $131.06 and a 1 year high of $193.31. The stock’s 50 day simple moving average is $171.06 and its 200-day simple moving average is $171.71. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue was up 15.1% on a year-over-year basis. During the same period last year, the business earned $1.55 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

The firm 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 is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. Alphabet’s payout ratio is presently 10.61%.

Analyst Ratings Changes

Several equities research analysts recently commented on GOOG shares. Pivotal Research boosted their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Finally, Wells Fargo & Company raised their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This represents a 8.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 163,624 shares of company stock valued at $27,803,730. 12.99% of the stock is currently owned by insiders.

Alphabet 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.