Threadgill Financial LLC Invests $4.62 Million in Alphabet Inc. $GOOG

Threadgill Financial LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 18,960 shares of the information services provider’s stock, valued at approximately $4,618,000. Alphabet comprises about 2.2% of Threadgill Financial LLC’s investment portfolio, making the stock its 15th largest holding.

Several other institutional investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC raised its holdings in shares of Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after buying an additional 135,064,454 shares during the period. Norges Bank bought a new position in Alphabet in the 2nd quarter valued at $4,298,572,000. Vanguard Group Inc. increased its stake in Alphabet by 1.3% in the second quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock worth $73,927,821,000 after purchasing an additional 5,182,111 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Alphabet by 73.5% during the third quarter. Assenagon Asset Management S.A. now owns 9,808,152 shares of the information services provider’s stock worth $2,388,775,000 after purchasing an additional 4,154,929 shares during the last quarter. Finally, Laurel Wealth Advisors LLC boosted its stake in shares of Alphabet by 17,547.9% during the second quarter. Laurel Wealth Advisors LLC now owns 4,122,727 shares of the information services provider’s stock valued at $731,331,000 after purchasing an additional 4,099,366 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.9%

Shares of NASDAQ GOOG opened at $303.75 on Friday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $328.67. The business has a fifty day moving average price of $288.40 and a 200 day moving average price of $233.60. The stock has a market capitalization of $3.67 trillion, a P/E ratio of 29.96, a price-to-earnings-growth ratio of 1.73 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.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The firm’s 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. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, December 8th. Alphabet’s payout ratio is 8.28%.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $308.19, for a total transaction of $184,914.00. Following the completion of the sale, the director owned 3,916 shares in the company, valued at approximately $1,206,872.04. This represents a 13.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $312.30, for a total value of $867,569.40. Following the completion of the sale, the chief accounting officer directly owned 8,962 shares of the company’s stock, valued at $2,798,832.60. The trade was a 23.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 228,906 shares of company stock worth $63,984,117. 12.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GOOG shares. Pivotal Research restated a “buy” rating and issued a $400.00 target price (up from $350.00) on shares of Alphabet in a research note on Friday, December 5th. JPMorgan Chase & Co. lifted their target price on Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Barclays upped their target price on Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Mizuho set a $325.00 price objective on Alphabet in a report on Thursday, October 30th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $313.04.

Alphabet Company 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.