Montis Financial LLC Purchases 5,551 Shares of Alphabet Inc. $GOOG

Montis Financial LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 59.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,882 shares of the information services provider’s stock after buying an additional 5,551 shares during the quarter. Alphabet comprises about 0.8% of Montis Financial LLC’s holdings, making the stock its 24th largest position. Montis Financial LLC’s holdings in Alphabet were worth $3,624,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. IFS Advisors LLC lifted its position in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after buying an additional 120 shares during the last quarter. Robbins Farley lifted its stake in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the period. WestEnd Advisors LLC raised its stake in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the last quarter. Fairman Group LLC lifted its holdings in shares of Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. Finally, University of Illinois Foundation purchased a new stake in shares of Alphabet during the second quarter valued at $31,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GOOG. Oppenheimer boosted their target price on shares of Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Mizuho set a $325.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. HSBC reissued a “buy” rating and set a $335.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Finally, Morgan Stanley lifted their price objective on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Eight analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $326.13.

Read Our Latest Analysis on GOOG

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $313.45, for a total value of $31,971.90. Following the sale, the director directly owned 18,205 shares in the company, valued at approximately $5,706,357.25. This trade represents a 0.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $312.30, for a total transaction of $867,569.40. Following the completion of the sale, the chief accounting officer owned 8,962 shares of the company’s stock, valued at approximately $2,798,832.60. This trade represents a 23.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 192,687 shares of company stock valued at $58,728,068. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.7%

Shares of NASDAQ GOOG opened at $330.84 on Friday. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $341.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a 50 day moving average price of $315.30 and a 200 day moving average price of $259.15. The firm has a market capitalization of $3.99 trillion, a price-to-earnings ratio of 32.63, a PEG ratio of 1.81 and a beta of 1.09.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.12 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Alphabet Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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