McIlrath & Eck LLC Acquires 1,546 Shares of Alphabet Inc. (NASDAQ:GOOG)

McIlrath & Eck LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,575 shares of the information services provider’s stock after acquiring an additional 1,546 shares during the quarter. McIlrath & Eck LLC’s holdings in Alphabet were worth $2,270,000 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 company. Citizens Business Bank boosted its stake in Alphabet by 1.1% in the 3rd quarter. Citizens Business Bank now owns 7,605 shares of the information services provider’s stock worth $1,271,000 after purchasing an additional 80 shares during the period. Discipline Wealth Solutions LLC bought a new stake in shares of Alphabet in the third quarter valued at about $469,000. Soltis Investment Advisors LLC lifted its holdings in shares of Alphabet by 22.3% in the third quarter. Soltis Investment Advisors LLC now owns 20,720 shares of the information services provider’s stock valued at $3,464,000 after purchasing an additional 3,772 shares in the last quarter. Hobbs Group Advisors LLC boosted its position in shares of Alphabet by 4.8% during the third quarter. Hobbs Group Advisors LLC now owns 3,544 shares of the information services provider’s stock worth $593,000 after buying an additional 162 shares during the period. Finally, Sunbelt Securities Inc. grew its holdings in shares of Alphabet by 2.3% during the third quarter. Sunbelt Securities Inc. now owns 35,066 shares of the information services provider’s stock worth $5,863,000 after buying an additional 796 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the transaction, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. This trade represents a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,923 shares of company stock worth $34,244,676 in the last ninety days. 12.99% of the stock is owned by company insiders.

Alphabet Trading Up 5.3 %

GOOG stock opened at $186.53 on Wednesday. Alphabet Inc. has a one year low of $131.06 and a one year high of $193.31. The stock has a market cap of $2.28 trillion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02. The company has a fifty day moving average price of $171.26 and a two-hundred day moving average price of $171.73. 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 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The business 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%. Alphabet’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.55 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s payout ratio is currently 10.61%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GOOG. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Pivotal Research lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, UBS Group upped their target price on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Five equities research 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.56.

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.