SGL Investment Advisors Inc. Acquires Shares of 25,697 Alphabet Inc. (NASDAQ:GOOG)

SGL Investment Advisors Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 25,697 shares of the information services provider’s stock, valued at approximately $4,557,000. Alphabet accounts for approximately 2.3% of SGL Investment Advisors Inc.’s portfolio, making the stock its 16th largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EWA LLC raised its holdings in Alphabet by 13.5% during the third quarter. EWA LLC now owns 5,025 shares of the information services provider’s stock worth $891,000 after purchasing an additional 597 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Alphabet by 6.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,746,192 shares of the information services provider’s stock valued at $459,136,000 after acquiring an additional 176,110 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in Alphabet by 143.3% during the third quarter. Y Intercept Hong Kong Ltd now owns 39,545 shares of the information services provider’s stock worth $6,612,000 after acquiring an additional 23,289 shares during the last quarter. MML Investors Services LLC lifted its holdings in shares of Alphabet by 2.9% in the third quarter. MML Investors Services LLC now owns 597,547 shares of the information services provider’s stock valued at $99,904,000 after purchasing an additional 17,015 shares in the last quarter. Finally, Montchanin Asset Management LLC grew its position in shares of Alphabet by 0.7% in the third quarter. Montchanin Asset Management LLC now owns 36,828 shares of the information services provider’s stock valued at $6,157,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 1.3 %

GOOG stock opened at $176.49 on Monday. The stock has a market cap of $2.16 trillion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02. The firm’s 50-day simple moving average is $171.06 and its 200 day simple moving average is $171.71. Alphabet Inc. has a fifty-two week low of $131.06 and a fifty-two week high of $193.31. 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 (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, sell-side analysts predict that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared 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 of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s payout ratio is 10.61%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. Canaccord Genuity Group upped their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Scotiabank began coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective for the company. Citigroup boosted their price target on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays lifted their price objective on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 163,624 shares of company stock worth $27,803,730 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Company 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.