Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Overbrook Management Corp

Overbrook Management Corp increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 7.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,459 shares of the information services provider’s stock after buying an additional 11,679 shares during the period. Alphabet accounts for 6.1% of Overbrook Management Corp’s holdings, making the stock its 3rd largest position. Overbrook Management Corp’s holdings in Alphabet were worth $26,660,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. M&G PLC bought a new position in Alphabet in the third quarter valued at approximately $2,240,000. Colonial River Wealth Management LLC grew its stake in shares of Alphabet by 5.3% during the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after buying an additional 107 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after buying an additional 4,292 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Alphabet by 10.2% during the third quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock worth $10,624,000 after buying an additional 5,892 shares during the last quarter. Finally, Rosenberg Matthew Hamilton grew its stake in shares of Alphabet by 4.6% during the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after buying an additional 498 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOG stock opened at $177.33 on Thursday. The stock has a market capitalization of $2.17 trillion, a P/E ratio of 23.52, a PEG ratio of 1.26 and a beta of 1.04. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average is $168.65 and its 200 day moving average is $171.91. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly 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 company had revenue of $88.27 billion for 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%. Alphabet’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.55 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GOOG. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Pivotal Research boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays boosted their price objective 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, UBS Group boosted their price objective on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the sale, the director now owns 319,966 shares in the company, valued at approximately $56,765,168.06. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,295 shares of company stock worth $30,698,791 in the last three months. 12.99% of the stock is currently owned by corporate insiders.

Alphabet 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.