Beck Capital Management LLC Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Beck Capital Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,500 shares of the information services provider’s stock after purchasing an additional 3,253 shares during the quarter. Alphabet makes up about 1.3% of Beck Capital Management LLC’s holdings, making the stock its 21st biggest holding. Beck Capital Management LLC’s holdings in Alphabet were worth $4,932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GOOG. Abich Financial Wealth Management LLC raised its stake in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Alphabet during the 2nd quarter worth approximately $37,000. HWG Holdings LP bought a new position in shares of Alphabet in the 2nd quarter worth approximately $40,000. Sanctuary Wealth Management L.L.C. lifted its stake in shares of Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares during the period. Finally, Slocum Gordon & Co LLP bought a new stake in shares of Alphabet during the second quarter valued at approximately $44,000. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,673,866 in the last three months. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GOOG. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Oppenheimer boosted their price target on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Barclays boosted their target price on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Stock Performance

GOOG opened at $170.49 on Monday. Alphabet Inc. has a 12-month low of $129.40 and a 12-month high of $193.31. The company has a market cap of $2.09 trillion, a price-to-earnings ratio of 22.61, a PEG ratio of 1.19 and a beta of 1.04. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average is $169.98 and its 200 day moving average is $171.82.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.