Gladstone Institutional Advisory LLC Has $7.99 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Gladstone Institutional Advisory LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,768 shares of the information services provider’s stock after buying an additional 6,956 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Alphabet were worth $7,986,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GOOG. Abich Financial Wealth Management LLC lifted its position in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. acquired a new position in shares of Alphabet in the 2nd quarter worth approximately $37,000. HWG Holdings LP acquired a new position in shares of Alphabet in the 2nd quarter worth approximately $40,000. Slocum Gordon & Co LLP acquired a new position in shares of Alphabet in the 2nd quarter worth approximately $44,000. Finally, Hoese & Co LLP lifted its position in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Oppenheimer boosted their target price on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday. Jefferies Financial Group boosted their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday. UBS Group boosted their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Stock Performance

NASDAQ GOOG opened at $172.65 on Friday. Alphabet Inc. has a 1 year low of $128.11 and a 1 year 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 2.08. The firm has a market cap of $2.13 trillion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.31 and a beta of 1.04. The company has a fifty day moving average price of $163.81 and a 200-day moving average price of $170.43.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the prior year, the business posted $1.55 EPS. The business’s revenue was up 15.1% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet Inc. will post 7.83 EPS for the current fiscal year.

Alphabet Dividend Announcement

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. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s payout ratio is 10.61%.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were 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 owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 230,244 shares of company stock worth $37,776,954 in the last quarter. 12.99% of the stock is currently owned by corporate insiders.

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.