Bamco Inc. NY Purchases 192 Shares of Alphabet Inc. (NASDAQ:GOOG)

Bamco Inc. NY boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.2% in the third quarter, Holdings Channel reports. The fund owned 112,898 shares of the information services provider’s stock after purchasing an additional 192 shares during the quarter. Bamco Inc. NY’s holdings in Alphabet were worth $18,875,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $22,099,000. Kestra Investment Management LLC bought a new stake in Alphabet during the third quarter valued at approximately $526,000. Paradigm Capital Management LLC NV purchased a new stake in Alphabet during the third quarter valued at approximately $2,458,000. FSA Wealth Management LLC bought a new position in Alphabet in the third quarter worth approximately $718,000. Finally, B&L Asset Management LLC purchased a new position in shares of Alphabet during the 3rd quarter worth $2,838,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.5 %

Shares of GOOG opened at $172.98 on Tuesday. The stock has a market capitalization of $2.12 trillion, a PE ratio of 22.94, a P/E/G ratio of 1.19 and a beta of 1.04. The company’s fifty day moving average is $169.98 and its 200 day moving average is $171.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.55 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. Citigroup raised their target price on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, Scotiabank assumed coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $200.56.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the sale, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,124 shares of company stock worth $31,374,030. Company insiders own 12.99% of the company’s stock.

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.