Clear Creek Financial Management LLC Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Clear Creek Financial Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,891 shares of the information services provider’s stock after buying an additional 196 shares during the quarter. Clear Creek Financial Management LLC’s holdings in Alphabet were worth $2,824,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Capital International Investors grew its stake in shares of Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after buying an additional 7,470,042 shares during the period. JPMorgan Chase & Co. raised its position in shares of Alphabet by 19.7% in the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after buying an additional 13,876,534 shares during the period. Capital World Investors boosted its holdings in Alphabet by 2.2% in the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after acquiring an additional 979,083 shares during the last quarter. Capital Research Global Investors grew its position in Alphabet by 2.0% during the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after acquiring an additional 684,968 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in 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 worth $2,688,743,000 after acquiring an additional 636,008 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOG has been the topic of several research analyst reports. UBS Group lifted their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Citigroup boosted their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday. Scotiabank assumed coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. Finally, Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,244 shares of company stock valued at $37,776,954 in the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Stock Down 0.0 %

GOOG stock opened at $172.65 on Friday. The company has a market capitalization of $2.13 trillion, a P/E ratio of 22.90, a PEG ratio of 1.24 and a beta of 1.04. The firm has a 50 day simple moving average of $163.81 and a 200-day simple moving average of $170.53. The company has a current ratio of 1.95, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $128.11 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last released 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 the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.55 EPS. On average, equities research analysts predict that Alphabet Inc. will post 7.89 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. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

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.