DGS Capital Management LLC Increases Stake in Alphabet Inc. (NASDAQ:GOOG)

DGS Capital Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 26,962 shares of the information services provider’s stock after acquiring an additional 531 shares during the period. Alphabet makes up 1.2% of DGS Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. DGS Capital Management LLC’s holdings in Alphabet were worth $4,508,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Copley Financial Group Inc. purchased a new position in shares of Alphabet in the 3rd quarter valued at about $962,000. Oddo BHF Asset Management Sas acquired a new position in Alphabet during the third quarter worth about $9,181,000. Boulder Wealth Advisors LLC acquired a new position in Alphabet during the third quarter worth about $339,000. Oriental Harbor Investment Fund purchased a new position in Alphabet in the third quarter valued at about $80,656,000. Finally, Inspire Trust Co. N.A. lifted its position in shares of Alphabet by 32.4% during the 3rd quarter. Inspire Trust Co. N.A. now owns 19,000 shares of the information services provider’s stock valued at $3,177,000 after acquiring an additional 4,648 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 0.2 %

GOOG stock traded down $0.31 during mid-day trading on Friday, reaching $193.32. The company had a trading volume of 4,204,441 shares, compared to its average volume of 19,597,766. Alphabet Inc. has a 52 week low of $131.06 and a 52 week high of $196.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a 50 day simple moving average of $172.74 and a two-hundred day simple moving average of $172.12. The company has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.38 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last released 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 net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the previous year, the company earned $1.55 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, equities analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 16,802 shares of Alphabet stock in a transaction on Friday, September 27th. The stock was sold at an average price of $165.47, for a total value of $2,780,226.94. Following the sale, the insider now owns 43,999 shares in the company, valued at $7,280,514.53. The trade was a 27.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,123 shares of company stock worth $34,121,676 over the last three months. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on GOOG shares. Canaccord Genuity Group upped their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet 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.