Contravisory Investment Management Inc. Purchases 142 Shares of Alphabet Inc. (NASDAQ:GOOG)

11 Oct 2024, 20:38 by Jessica Moore · The Cerbat Gem

Contravisory Investment Management Inc. increased its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,806 shares of the information services provider’s stock after acquiring an additional 142 shares during the quarter. Alphabet comprises about 1.8% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 25th biggest position. Contravisory Investment Management Inc.’s holdings in Alphabet were worth $8,494,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of GOOG. Richardson Financial Services Inc. acquired a new stake in Alphabet in the 4th quarter worth $34,000. Abich Financial Wealth Management LLC grew its position in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Alphabet in the 2nd quarter worth $37,000. HWG Holdings LP acquired a new stake in Alphabet in the 2nd quarter worth $40,000. Finally, Slocum Gordon & Co LLP acquired a new stake in Alphabet in the 2nd quarter worth $44,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $163.18 on Friday. The firm has a market cap of $2.01 trillion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $163.07 and its two-hundred day moving average price is $169.07.

Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.44 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 11.48%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GOOG shares. UBS Group decreased their price target on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Oppenheimer decreased their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $184.11.

Check Out Our Latest Report on Alphabet

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 216,092 shares of company stock valued at $35,644,136. Insiders own 12.99% of the company’s stock.

Alphabet Company Profile

(Free Report)

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.