Empirical Asset Management LLC Acquires 384 Shares of Alphabet Inc. (NASDAQ:GOOG)

Empirical Asset Management LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,327 shares of the information services provider’s stock after buying an additional 384 shares during the period. Empirical Asset Management LLC’s holdings in Alphabet were worth $2,897,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. Richardson Financial Services Inc. bought a new stake in shares of Alphabet in the 4th quarter worth approximately $34,000. Abich Financial Wealth Management LLC grew its position in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Alphabet in the second quarter worth $37,000. HWG Holdings LP bought a new stake in Alphabet in the second quarter worth $40,000. Finally, Slocum Gordon & Co LLP bought a new stake in Alphabet in the second quarter worth $44,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of several research reports. DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday, September 10th. Scotiabank initiated coverage on Alphabet in a report on Friday. They set a “sector outperform” rating and a $212.00 price objective for the company. Pivotal Research started coverage on Alphabet in a research report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price on the stock. TD Cowen increased their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Oppenheimer decreased their price target on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $186.90.

Alphabet Price Performance

GOOG stock traded up $2.40 during midday trading on Monday, reaching $166.92. The company had a trading volume of 2,639,003 shares, compared to its average volume of 19,704,656. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.37, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The stock has a 50 day moving average price of $162.81 and a 200-day moving average price of $169.37.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.44 earnings per share. Equities research analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now directly owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,092 shares of company stock worth $35,644,136 over the last ninety days. Insiders own 12.99% of the company’s stock.

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.