RAM Investment Partners LLC Buys 9,253 Shares of Alphabet Inc. $GOOG

RAM Investment Partners LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 59.1% during the third quarter, HoldingsChannel.com reports. The fund owned 24,906 shares of the information services provider’s stock after purchasing an additional 9,253 shares during the period. Alphabet makes up 1.1% of RAM Investment Partners LLC’s holdings, making the stock its 13th largest position. RAM Investment Partners LLC’s holdings in Alphabet were worth $6,066,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings 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 buying an additional 6,410 shares during the period. Segment Wealth Management LLC lifted its position in Alphabet by 3.3% during the 2nd quarter. Segment Wealth Management LLC now owns 44,739 shares of the information services provider’s stock worth $7,936,000 after acquiring an additional 1,437 shares during the last quarter. Wallington Asset Management LLC boosted its holdings in Alphabet by 0.6% during the second quarter. Wallington Asset Management LLC now owns 85,356 shares of the information services provider’s stock valued at $15,141,000 after acquiring an additional 490 shares during the period. ZWJ Investment Counsel Inc. grew its position in shares of Alphabet by 4.5% in the second quarter. ZWJ Investment Counsel Inc. now owns 483,518 shares of the information services provider’s stock valued at $85,771,000 after purchasing an additional 20,798 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in shares of Alphabet by 1.7% in the second quarter. QRG Capital Management Inc. now owns 888,597 shares of the information services provider’s stock valued at $157,628,000 after purchasing an additional 15,155 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Alphabet Trading Down 1.2%

Shares of GOOG stock opened at $340.70 on Wednesday. The firm has a fifty day moving average of $321.78 and a 200-day moving average of $269.04. The stock has a market cap of $4.11 trillion, a price-to-earnings ratio of 33.60, a P/E/G ratio of 2.08 and a beta of 1.10. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $350.15. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $312.30, for a total transaction of $867,569.40. Following the sale, the chief accounting officer directly owned 8,962 shares of the company’s stock, valued at approximately $2,798,832.60. The trade was a 23.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total value of $9,640,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,304,619 shares of the company’s stock, valued at approximately $683,642,180.16. The trade was a 1.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,037,964 shares of company stock worth $95,259,727 in the last three months. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent analyst reports. Barclays increased their target price on Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Piper Sandler upped their price target on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Wolfe Research raised their price objective on shares of Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Rosenblatt Securities set a $279.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Finally, Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Eight investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $330.83.

Check Out Our Latest Stock Analysis on GOOG

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.

See Also

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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