Verdence Capital Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 10.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,545 shares of the information services provider's stock after acquiring an additional 5,892 shares during the quarter. Alphabet comprises about 0.8% of Verdence Capital Advisors LLC's portfolio, making the stock its 19th biggest position. Verdence Capital Advisors LLC's holdings in Alphabet were worth $10,624,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Abich Financial Wealth Management LLC boosted its position in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider's stock worth $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Alphabet in the 2nd quarter worth $37,000. HWG Holdings LP acquired a new stake in shares of Alphabet in the 2nd quarter worth $40,000. Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet in the 2nd quarter worth $44,000. Finally, Hoese & Co LLP boosted its position in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider's stock worth $45,000 after purchasing an additional 100 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Alphabet
In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the completion of the transaction, the director now owns 30,024 shares in the company, valued at $4,894,812.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director Frances Arnold sold 441 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the sale, the director now owns 30,024 shares of the company's stock, valued at approximately $4,894,812.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 242,552 shares of company stock worth $40,287,253 in the last 90 days. Corporate insiders own 12.99% of the company's stock.
Alphabet Price Performance
Shares of Alphabet stock traded down $2.42 on Friday, hitting $179.86. The company's stock had a trading volume of 15,021,549 shares, compared to its average volume of 18,002,984. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The firm has a fifty day moving average price of $164.92 and a 200-day moving average price of $171.20. The company has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 1.25 and a beta of 1.04.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating 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 analyst estimates of $86.39 billion. During the same quarter in the previous year, the business earned $1.55 EPS. Alphabet's revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet's dividend payout ratio is presently 10.61%.
Wall Street Analyst Weigh In
GOOG has been the subject of a number of recent analyst reports. Wolfe Research raised Alphabet to a "strong-buy" rating in a research report on Tuesday, July 16th. Citigroup lifted their price target on Alphabet from $212.00 to $216.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. Finally, Cantor Fitzgerald raised Alphabet to a "hold" rating in a research report on Thursday, September 5th. Five 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. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $200.56.
Check Out Our Latest Report on GOOG
Alphabet Profile
(
Free Report)
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.
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