Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Nemes Rush Group LLC

Nemes Rush Group LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.3% during the second quarter, Holdings Channel reports. The firm owned 12,999 shares of the information services provider’s stock after buying an additional 289 shares during the period. Nemes Rush Group LLC’s holdings in Alphabet were worth $2,384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after buying an additional 13,876,534 shares during the last quarter. Swedbank AB bought a new stake in Alphabet in the 1st quarter valued at about $1,378,708,000. Capital International Investors boosted its stake in 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 purchasing an additional 7,470,042 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Alphabet by 51.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock worth $976,923,000 after purchasing an additional 2,190,795 shares during the last quarter. Finally, Vima LLC increased its stake in shares of Alphabet by 178,253.1% in the first quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after purchasing an additional 2,000,000 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold 203,367 shares of company stock valued at $34,079,756 over the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $165.29 on Friday. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average of $164.34 and a two-hundred day moving average of $167.97. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the firm posted $1.44 earnings per share. As a group, analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent analyst reports. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. TD Cowen raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $179.29.

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.