Stone House Investment Management LLC Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Stone House Investment Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,801 shares of the information services provider’s stock after purchasing an additional 108 shares during the period. Stone House Investment Management LLC’s holdings in Alphabet were worth $468,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GOOG. RPg Family Wealth Advisory LLC purchased a new position in shares of Alphabet in the 3rd quarter valued at $237,000. CreativeOne Wealth LLC raised its position in Alphabet by 42.9% in the third quarter. CreativeOne Wealth LLC now owns 19,288 shares of the information services provider’s stock valued at $3,225,000 after purchasing an additional 5,791 shares during the period. Baupost Group LLC MA lifted its stake in shares of Alphabet by 37.0% during the third quarter. Baupost Group LLC MA now owns 1,465,588 shares of the information services provider’s stock worth $245,032,000 after purchasing an additional 396,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Alphabet by 182.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock worth $422,331,000 after buying an additional 1,630,701 shares during the period. Finally, Cynosure Group LLC grew its stake in shares of Alphabet by 42.8% in the third quarter. Cynosure Group LLC now owns 3,861 shares of the information services provider’s stock valued at $646,000 after buying an additional 1,158 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. The trade was a 35.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,673,866 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GOOG shares. Citigroup boosted their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price objective on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Stock Performance

Shares of NASDAQ:GOOG traded up $1.19 during trading on Wednesday, hitting $170.62. 14,937,478 shares of the company traded hands, compared to its average volume of 21,772,436. The business’s fifty day moving average is $169.51 and its 200-day moving average is $171.86. The stock has a market capitalization of $2.09 trillion, a price-to-earnings ratio of 22.63, a PEG ratio of 1.18 and a beta of 1.04. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating 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 firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. 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.