Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna Takes Position in Alphabet Inc. $GOOG

Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 29,600 shares of the information services provider’s stock, valued at approximately $5,251,000. Alphabet accounts for about 2.1% of Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna’s investment portfolio, making the stock its 9th largest holding.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. REDW Wealth LLC increased its stake in shares of Alphabet by 2.3% in the 2nd quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock valued at $428,000 after acquiring an additional 54 shares during the last quarter. GDS Wealth Management grew its holdings in Alphabet by 2.4% during the second quarter. GDS Wealth Management now owns 2,325 shares of the information services provider’s stock valued at $412,000 after purchasing an additional 54 shares during the period. ACT Advisors LLC. increased its stake in Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after purchasing an additional 55 shares in the last quarter. Moser Wealth Advisors LLC raised its holdings in Alphabet by 2.2% in the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after purchasing an additional 55 shares during the period. Finally, LongView Wealth Management boosted its position in shares of Alphabet by 1.1% during the second 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 in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GOOG. Guggenheim restated a “buy” rating and issued a $375.00 price objective on shares of Alphabet in a research report on Monday, December 1st. BMO Capital Markets reissued an “outperform” rating and issued a $340.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Morgan Stanley increased their price target on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, December 3rd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $330.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Buy” and an average price target of $310.54.

Alphabet Stock Performance

GOOG opened at $314.45 on Tuesday. The company has a market capitalization of $3.79 trillion, a price-to-earnings ratio of 31.01, a P/E/G ratio of 1.86 and a beta of 1.07. The business’s 50-day moving average price is $278.13 and its two-hundred day moving average price is $226.67. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $328.67. 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 posted its quarterly earnings data 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. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.Alphabet’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.12 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is 8.28%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet 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 sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares of the company’s stock, valued at $3,629,725.80. The trade was a 16.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 228,906 shares of company stock valued at $62,127,158 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

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.