Copley Financial Group Inc. Invests $962,000 in Alphabet Inc. (NASDAQ:GOOG)

Copley Financial Group Inc. acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,751 shares of the information services provider’s stock, valued at approximately $962,000. Alphabet makes up 0.9% of Copley Financial Group Inc.’s holdings, making the stock its 15th biggest position.

Several other large investors also recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Alphabet by 5.2% in the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after buying an additional 5,655,022 shares during the period. Geode Capital Management LLC raised its holdings in shares of Alphabet by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock valued at $17,247,208,000 after purchasing an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Alphabet by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after buying an additional 3,113,395 shares during the period. Jennison Associates LLC lifted its stake in shares of Alphabet by 9.1% during the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after purchasing an additional 1,291,274 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Alphabet by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock valued at $2,688,743,000 after buying an additional 636,008 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of Alphabet stock traded down $0.13 during mid-day trading on Friday, reaching $193.50. 3,297,731 shares of the stock traded hands, compared to its average volume of 19,594,035. The stock has a market capitalization of $2.37 trillion, a PE ratio of 25.68, a PEG ratio of 1.38 and a beta of 1.02. The business has a 50-day moving average of $172.74 and a 200 day moving average of $172.12. Alphabet Inc. has a fifty-two week low of $131.06 and a fifty-two week high of $196.89. 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 issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.55 earnings per share. On average, analysts predict that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. The trade was a 4.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 197,123 shares of company stock worth $34,121,676. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GOOG. JPMorgan Chase & Co. upped their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citigroup increased their price target on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Scotiabank initiated coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective on the stock. Barclays lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price 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.