Asset Dedication LLC Has $5.18 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Asset Dedication LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,243 shares of the information services provider’s stock after purchasing an additional 1,029 shares during the quarter. Asset Dedication LLC’s holdings in Alphabet were worth $5,180,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOG. Park Avenue Securities LLC boosted its holdings in shares of Alphabet by 11.9% in the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after purchasing an additional 11,646 shares in the last quarter. Colonial River Wealth Management LLC boosted its stake in Alphabet by 5.3% in the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after buying an additional 107 shares in the last quarter. Apexium Financial LP grew its position in Alphabet by 335.9% in the fourth quarter. Apexium Financial LP now owns 53,823 shares of the information services provider’s stock valued at $7,586,000 after acquiring an additional 41,476 shares during the last quarter. Oak Ridge Investments LLC grew its position in Alphabet by 4.6% in the first quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after acquiring an additional 8,201 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its stake in Alphabet by 0.7% during the first quarter. V Square Quantitative Management LLC now owns 62,917 shares of the information services provider’s stock worth $9,580,000 after acquiring an additional 426 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 1.7 %

Shares of GOOG opened at $149.54 on Tuesday. The stock’s 50-day moving average price is $171.80 and its two-hundred day moving average price is $165.96. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The company has a market capitalization of $1.84 trillion, a PE ratio of 22.94, a PEG ratio of 1.13 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period last year, the company earned $1.44 earnings per share. The firm’s revenue was up 13.6% compared to the same quarter last year. On average, analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders sold a total of 200,532 shares of company stock worth $34,055,874 over the last three months. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GOOG shares. TD Cowen lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Oppenheimer boosted their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $182.86.

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.