SBI Securities Co. Ltd. Boosts Holdings in Alphabet Inc. $GOOG

SBI Securities Co. Ltd. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,755 shares of the information services provider’s stock after acquiring an additional 944 shares during the period. Alphabet accounts for about 0.9% of SBI Securities Co. Ltd.’s investment portfolio, making the stock its 20th largest position. SBI Securities Co. Ltd.’s holdings in Alphabet were worth $30,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. REDW Wealth LLC grew its stake in shares of Alphabet by 2.3% during the 2nd quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock valued at $428,000 after buying an additional 54 shares during the period. ACT Advisors LLC. grew its position in Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after acquiring an additional 55 shares during the period. Moser Wealth Advisors LLC increased its stake in Alphabet by 2.2% during the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after acquiring an additional 55 shares during the last quarter. LongView Wealth Management raised its holdings in shares of Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after purchasing an additional 56 shares during the period. Finally, Kooman & Associates lifted its stake in shares of Alphabet by 1.4% in the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock valued at $732,000 after purchasing an additional 56 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $282.33, for a total value of $269,342.82. Following the transaction, the chief accounting officer directly owned 14,517 shares in the company, valued at approximately $4,098,584.61. This trade represents a 6.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the completion of the transaction, the chief executive officer directly owned 2,337,119 shares of the company’s stock, valued at $662,526,494.12. This trade represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 221,796 shares of company stock valued at $53,983,001 over the last quarter. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of GOOG stock opened at $287.43 on Thursday. The firm has a fifty day moving average of $256.07 and a two-hundred day moving average of $208.20. The firm has a market cap of $3.47 trillion, a P/E ratio of 28.35, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $292.36. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same period last year, the firm earned $2.12 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently commented on GOOG shares. Canaccord Genuity Group restated a “buy” rating and issued a $330.00 price target on shares of Alphabet in a report on Thursday, October 30th. Piper Sandler raised their target price on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a research report on Thursday, October 30th. DA Davidson set a $825.00 price objective on Alphabet in a research report on Monday, October 27th. Finally, Jefferies Financial Group upped their target price on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $324.81.

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.