Alphabet Inc. $GOOG Holdings Lifted by Pragma Gestao DE Patrimonio Ltd.

Pragma Gestao DE Patrimonio Ltd. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,500 shares of the information services provider’s stock after buying an additional 6,300 shares during the quarter. Alphabet comprises approximately 5.1% of Pragma Gestao DE Patrimonio Ltd.’s holdings, making the stock its 6th largest position. Pragma Gestao DE Patrimonio Ltd.’s holdings in Alphabet were worth $11,619,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. IFS Advisors LLC increased its holdings in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 120 shares during the last quarter. Robbins Farley boosted its holdings in shares of Alphabet by 60.0% during 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 last quarter. WestEnd Advisors LLC grew its position in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares in the last quarter. Fairman Group LLC grew its position 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 bought a new stake in shares of Alphabet in the second quarter worth about $31,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 196,406 shares of company stock valued at $51,743,408. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $316.02 on Wednesday. The firm has a market capitalization of $3.81 trillion, a price-to-earnings ratio of 31.17, a PEG ratio of 1.82 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The business has a 50 day simple moving average of $272.34 and a 200-day simple moving average of $222.44. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $328.67.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company 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%.Alphabet’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the company earned $2.12 earnings per share. Equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GOOG. Wolfe Research increased their price target on Alphabet from $290.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Oppenheimer lifted their price objective on Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Barclays upped their price objective on Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. BNP Paribas initiated coverage on shares of Alphabet in a report on Monday, November 24th. They issued an “outperform” rating for the company. Finally, Jefferies Financial Group boosted their price target on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $307.22.

About Alphabet

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.