Angeles Investment Advisors LLC Invests $723,000 in Alphabet Inc. (NASDAQ:GOOG)

Angeles Investment Advisors LLC bought a new position in Alphabet Inc. (NASDAQ:GOOG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,943 shares of the information services provider’s stock, valued at approximately $723,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. Gilbert & Cook Inc. increased its stake in shares of Alphabet by 15.5% in the fourth quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock valued at $4,109,000 after buying an additional 3,924 shares during the period. Concentrum Wealth Management increased its position in Alphabet by 25.0% during the 4th quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock valued at $2,317,000 after purchasing an additional 3,283 shares during the period. Aveo Capital Partners LLC increased its position in Alphabet by 2.4% during the 4th quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock valued at $937,000 after purchasing an additional 154 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Alphabet during the 4th quarter worth approximately $620,000. Finally, Paragon Private Wealth Management LLC boosted its holdings in shares of Alphabet by 9.4% during the 4th quarter. Paragon Private Wealth Management LLC now owns 1,716 shares of the information services provider’s stock worth $242,000 after buying an additional 148 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold a total of 202,667 shares of company stock valued at $34,341,581 in the last ninety days. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GOOG. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Oppenheimer increased their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $182.86.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $158.99 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $168.43 and its two-hundred day simple moving average is $166.48. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The stock has a market cap of $1.96 trillion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same period last year, the business earned $1.44 EPS. The business’s revenue was up 13.6% on a year-over-year basis. As a group, analysts forecast that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

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.