Root Financial Partners LLC Purchases 2,594 Shares of Alphabet Inc. $GOOG

Root Financial Partners LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 22.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,985 shares of the information services provider’s stock after purchasing an additional 2,594 shares during the quarter. Root Financial Partners LLC’s holdings in Alphabet were worth $3,406,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares during the period. Kooman & Associates increased its holdings in Alphabet by 1.4% during the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after buying an additional 56 shares during the last quarter. Vestia Personal Wealth Advisors raised its position in Alphabet by 7.8% in the second quarter. Vestia Personal Wealth Advisors now owns 1,406 shares of the information services provider’s stock worth $249,000 after acquiring an additional 102 shares during the period. Meridian Investment Counsel Inc. boosted its stake in Alphabet by 1.5% in the second quarter. Meridian Investment Counsel Inc. now owns 7,765 shares of the information services provider’s stock valued at $1,377,000 after acquiring an additional 111 shares during the last quarter. Finally, Highline Wealth Partners LLC grew its position in shares of Alphabet by 0.9% during the 2nd quarter. Highline Wealth Partners LLC now owns 19,038 shares of the information services provider’s stock valued at $3,377,000 after acquiring an additional 163 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $288.26, for a total value of $800,786.28. Following the transaction, the chief accounting officer owned 11,739 shares of the company’s stock, valued at approximately $3,383,884.14. This represents a 19.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,829 shares of Alphabet stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $314.89, for a total value of $5,614,173.81. Following the sale, the insider directly owned 42,972 shares of the company’s stock, valued at $13,531,453.08. This represents a 29.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 225,187 shares of company stock worth $69,365,318 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Phillip Securities upgraded Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. HSBC reissued a “buy” rating and issued a $335.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a report on Wednesday, December 17th. Eight analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $327.13.

Get Our Latest Analysis on Alphabet

Alphabet Stock Up 1.6%

Shares of NASDAQ GOOG opened at $333.59 on Tuesday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $341.20. The business has a 50-day simple moving average of $317.29 and a two-hundred day simple moving average of $262.47. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.03 trillion, a P/E ratio of 32.90, a P/E/G ratio of 1.81 and a beta of 1.09.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same period in the prior year, the business posted $2.12 earnings per share. The company’s revenue was up 15.9% on a year-over-year basis. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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