Alphabet Inc. (NASDAQ:GOOG) is J. Stern & Co. LLP’s 5th Largest Position

26 Nov 2024, 19:30 by Danessa Lincoln · The Markets Daily

J. Stern & Co. LLP raised its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 6.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 385,951 shares of the information services provider’s stock after purchasing an additional 23,538 shares during the quarter. Alphabet accounts for approximately 6.9% of J. Stern & Co. LLP’s investment portfolio, making the stock its 5th biggest holding. J. Stern & Co. LLP’s holdings in Alphabet were worth $64,527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Street Partners LLC lifted its stake in shares of Alphabet by 97.7% in the 3rd quarter. Principal Street Partners LLC now owns 27,248 shares of the information services provider’s stock valued at $4,997,000 after purchasing an additional 13,464 shares during the period. Brooklyn Investment Group raised its position in shares of Alphabet by 6.4% in the third quarter. Brooklyn Investment Group now owns 29,921 shares of the information services provider’s stock worth $5,002,000 after acquiring an additional 1,805 shares during the period. Covington Investment Advisors Inc. boosted its stake in shares of Alphabet by 1.0% during the 3rd quarter. Covington Investment Advisors Inc. now owns 222,275 shares of the information services provider’s stock worth $37,162,000 after acquiring an additional 2,150 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Alphabet during the 3rd quarter valued at about $1,445,000. Finally, D.A. Davidson & CO. increased its stake in shares of Alphabet by 1.5% in the 3rd quarter. D.A. Davidson & CO. now owns 286,906 shares of the information services provider’s stock valued at $47,968,000 after purchasing an additional 4,233 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at $364,259,266.02. This represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,673,866 over the last quarter. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research analyst reports. Pivotal Research raised their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Oppenheimer upped their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Barclays upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, UBS Group boosted their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Check Out Our Latest Stock Analysis on GOOG

Alphabet Trading Up 0.6 %

Shares of NASDAQ GOOG traded up $1.09 during mid-day trading on Tuesday, reaching $170.52. 1,403,215 shares of the company’s stock were exchanged, compared to its average volume of 19,575,656. The company’s 50-day moving average is $169.30 and its 200-day moving average is $171.85. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market capitalization of $2.09 trillion, a price-to-earnings ratio of 22.47, a PEG ratio of 1.16 and a beta of 1.04. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG – Get Free Report) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Alphabet’s revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.55 earnings per share. Analysts expect that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced 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 of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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