Wellington Capital Management Inc. Invests $575,000 in Alphabet Inc. $GOOG

Wellington Capital Management Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,092 shares of the information services provider’s stock, valued at approximately $575,000.

Several other hedge funds also recently bought and sold shares of GOOG. IFS Advisors LLC raised its position in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the period. Robbins Farley boosted its position in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares during the period. WestEnd Advisors LLC grew 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 valued at $29,000 after buying an additional 61 shares in the last quarter. Fairman Group LLC grew its stake in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after buying an additional 97 shares in the last quarter. Finally, University of Illinois Foundation purchased a new stake in shares of Alphabet in the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the transaction, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 228,906 shares of company stock valued at $62,127,158. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research analyst reports. Rosenblatt Securities set a $279.00 target price on Alphabet in a report on Thursday, October 30th. Jefferies Financial Group raised their price objective on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Morgan Stanley upped their target price 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. Loop Capital upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Finally, Guggenheim restated a “buy” rating and issued a $375.00 price target on shares of Alphabet in a research note on Monday, December 1st. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average target price of $313.04.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $310.52 on Friday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $328.67. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $3.75 trillion, a P/E ratio of 30.62, a P/E/G ratio of 1.80 and a beta of 1.07. The stock has a 50 day moving average of $283.75 and a two-hundred day moving average of $230.33.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter in the prior year, the firm earned $2.12 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid 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%.

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.