Arthur M. Cohen & Associates LLC Has $22.82 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Arthur M. Cohen & Associates LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,507 shares of the information services provider’s stock after purchasing an additional 2,039 shares during the quarter. Alphabet accounts for 4.1% of Arthur M. Cohen & Associates LLC’s holdings, making the stock its 9th biggest position. Arthur M. Cohen & Associates LLC’s holdings in Alphabet were worth $22,822,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Abich Financial Wealth Management LLC boosted its position in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. acquired a new position in shares of Alphabet in the 2nd quarter valued at $37,000. HWG Holdings LP acquired a new position in shares of Alphabet in the 2nd quarter valued at $40,000. Slocum Gordon & Co LLP acquired a new position in shares of Alphabet in the 2nd quarter valued at $44,000. Finally, Hoese & Co LLP boosted its position in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GOOG shares. Scotiabank started coverage on Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target for the company. JPMorgan Chase & Co. increased their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Barclays increased their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Stock Up 0.4 %

GOOG opened at $171.41 on Wednesday. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. The business has a 50-day moving average of $163.97 and a 200-day moving average of $170.83. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $2.11 trillion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $86.39 billion. During the same period last year, the business earned $1.55 EPS. The business’s quarterly revenue was up 15.1% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 7.97 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,552 shares of company stock valued at $34,433,848. Corporate insiders own 12.99% of the company’s stock.

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.