OneDigital Investment Advisors LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

OneDigital Investment Advisors LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,226 shares of the information services provider’s stock after buying an additional 4,562 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Alphabet were worth $21,104,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Abich Financial Wealth Management LLC raised its position in Alphabet by 9,200.0% during the 2nd 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. purchased a new stake in shares of Alphabet in the 2nd quarter valued at $37,000. HWG Holdings LP acquired a new stake in shares of Alphabet in the second quarter worth $40,000. Sanctuary Wealth Management L.L.C. raised its holdings in shares of Alphabet by 87.3% during 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 last quarter. Finally, Slocum Gordon & Co LLP acquired a new position in Alphabet during the second quarter valued at $44,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,795 shares of company stock valued at $34,471,141. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of a number of recent research reports. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Oppenheimer boosted their price target on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Scotiabank initiated coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price for the company. Finally, Jefferies Financial Group increased their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Price Performance

Shares of Alphabet stock opened at $177.35 on Friday. The stock has a market capitalization of $2.17 trillion, a P/E ratio of 23.52, a PEG ratio of 1.27 and a beta of 1.04. The business has a 50 day simple moving average of $166.20 and a two-hundred day simple moving average of $171.57. Alphabet Inc. has a 12 month low of $129.40 and a 12 month 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 posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the prior year, the company earned $1.55 EPS. The firm’s revenue was up 15.1% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. Alphabet’s payout ratio is presently 10.61%.

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.