Cladis Investment Advisory LLC Acquires 250 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cladis Investment Advisory LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,055 shares of the information services provider’s stock after purchasing an additional 250 shares during the quarter. Cladis Investment Advisory LLC’s holdings in Alphabet were worth $1,180,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Abich Financial Wealth Management LLC lifted its stake in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Alphabet during the 2nd quarter worth $37,000. HWG Holdings LP bought a new stake in Alphabet during the second quarter valued at about $40,000. Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet in the second quarter valued at about $44,000. Finally, Sanctuary Wealth Management L.L.C. increased its stake in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the transaction, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the 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 sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 8.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock valued at $34,673,866 in the last three months. 12.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several research reports. Citigroup increased their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Barclays raised 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. 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 report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Stock Performance

Alphabet stock opened at $170.49 on Monday. The firm has a market capitalization of $2.09 trillion, a P/E ratio of 22.61, a P/E/G ratio of 1.19 and a beta of 1.04. The stock has a fifty day moving average price of $169.98 and a two-hundred day moving average price of $171.82. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during 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%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the company posted $1.55 EPS. As a group, analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Alphabet Company 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.