Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Veracity Capital LLC

Veracity Capital LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,193 shares of the information services provider’s stock after purchasing an additional 721 shares during the period. Alphabet comprises approximately 0.6% of Veracity Capital LLC’s holdings, making the stock its 28th biggest holding. Veracity Capital LLC’s holdings in Alphabet were worth $1,560,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ninepoint Partners LP boosted its stake in shares of Alphabet by 7.4% during the second quarter. Ninepoint Partners LP now owns 7,423 shares of the information services provider’s stock valued at $1,362,000 after acquiring an additional 514 shares during the last quarter. Texas Capital Bancshares Inc TX purchased a new position in Alphabet in the 2nd quarter valued at about $306,000. Kathmere Capital Management LLC boosted its stake in shares of Alphabet by 19.4% during the 2nd quarter. Kathmere Capital Management LLC now owns 18,531 shares of the information services provider’s stock worth $3,399,000 after purchasing an additional 3,010 shares during the last quarter. Empirical Capital Management LLC grew its holdings in shares of Alphabet by 244.8% during the second quarter. Empirical Capital Management LLC now owns 100,000 shares of the information services provider’s stock worth $18,342,000 after buying an additional 71,000 shares in the last quarter. Finally, Rockport Wealth LLC raised its position in shares of Alphabet by 134.0% in the second quarter. Rockport Wealth LLC now owns 4,365 shares of the information services provider’s stock valued at $801,000 after buying an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $201.90 on Friday. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $203.84. 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 $2.47 trillion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The firm’s fifty day moving average price is $187.95 and its 200 day moving average price is $175.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. The company’s revenue was up 15.1% compared to the same quarter last year. On average, research analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the sale, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. This represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,387 shares of company stock worth $24,368,654. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several analyst reports. Citigroup boosted their price target on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Jefferies Financial Group upped their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer lifted 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. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

About Alphabet

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.