Dearborn Partners LLC Purchases 731 Shares of Alphabet Inc. (NASDAQ:GOOG)

Dearborn Partners LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,628 shares of the information services provider’s stock after buying an additional 731 shares during the quarter. Dearborn Partners LLC’s holdings in Alphabet were worth $1,777,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Abich Financial Wealth Management LLC boosted its stake in shares of Alphabet by 9,200.0% during the second 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. purchased a new stake in Alphabet in the 2nd quarter valued at about $37,000. HWG Holdings LP bought a new stake in shares of Alphabet during the second quarter valued at approximately $40,000. Sanctuary Wealth Management L.L.C. raised its stake in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet in the second quarter valued at approximately $44,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the sale, the director now directly owns 319,966 shares in the company, valued at $56,765,168.06. This represents a 3.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 206,795 shares of company stock valued at $34,471,141 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 1.7 %

Shares of NASDAQ:GOOG opened at $177.35 on Friday. The business has a 50 day moving average of $166.20 and a two-hundred day moving average of $171.57. Alphabet Inc. has a 12-month low of $129.40 and a 12-month high of $193.31. The company has a market capitalization of $2.17 trillion, a PE ratio of 23.52, a PEG ratio of 1.27 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.

Alphabet (NASDAQ:GOOG) last announced its quarterly 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 during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.55 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given 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 dividend payout ratio (DPR) is 10.61%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GOOG. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Pivotal Research lifted their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Oppenheimer raised their price target on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $200.56.

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.