Empowered Funds LLC Has $16.86 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Empowered Funds LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 10.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,845 shares of the information services provider’s stock after buying an additional 9,497 shares during the period. Empowered Funds LLC’s holdings in Alphabet were worth $16,860,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Abich Financial Wealth Management LLC lifted its position in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new stake in Alphabet in the second quarter valued at $37,000. HWG Holdings LP acquired a new position in shares of Alphabet during the second quarter valued at about $40,000. Sanctuary Wealth Management L.L.C. boosted its position in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet in the 2nd quarter valued at about $44,000. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The trade was a 1.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,795 shares of company stock valued at $34,471,141 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Down 1.2 %

Shares of NASDAQ GOOG opened at $175.20 on Friday. The business has a 50-day moving average of $166.20 and a 200-day moving average of $171.57. The firm has a market capitalization of $2.14 trillion, a price-to-earnings 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 Inc. has a 12 month low of $129.40 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. Sell-side analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Jefferies Financial Group increased their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

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.