Alphabet Inc. (NASDAQ:GOOG) Stake Increased by Mission Creek Capital Partners Inc.

Mission Creek Capital Partners Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,419 shares of the information services provider’s stock after acquiring an additional 1,389 shares during the period. Alphabet comprises approximately 2.0% of Mission Creek Capital Partners Inc.’s portfolio, making the stock its 7th largest position. Mission Creek Capital Partners Inc.’s holdings in Alphabet were worth $8,597,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Walden Wealth Partners LLC lifted its stake in Alphabet by 5.3% in the second quarter. Walden Wealth Partners LLC now owns 18,647 shares of the information services provider’s stock worth $3,420,000 after purchasing an additional 931 shares during the last quarter. Norman Fields Gottscho Capital Management LLC lifted its stake in shares of Alphabet by 2.8% in the 2nd quarter. Norman Fields Gottscho Capital Management LLC now owns 35,879 shares of the information services provider’s stock valued at $6,912,000 after acquiring an additional 962 shares during the last quarter. Franchise Capital Ltd bought a new stake in shares of Alphabet in the 2nd quarter valued at about $15,476,000. Warther Private Wealth LLC boosted its holdings in Alphabet by 36.6% during the 2nd quarter. Warther Private Wealth LLC now owns 6,950 shares of the information services provider’s stock valued at $1,275,000 after acquiring an additional 1,863 shares during the period. Finally, CX Institutional grew its position in Alphabet by 9.2% during the 2nd quarter. CX Institutional now owns 31,944 shares of the information services provider’s stock worth $5,859,000 after acquiring an additional 2,700 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG opened at $173.02 on Wednesday. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The stock has a 50-day moving average price of $170.37 and a 200-day moving average price of $171.78. The firm has a market cap of $2.12 trillion, a PE ratio of 22.95, a P/E/G ratio of 1.21 and a beta of 1.02. 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 issued 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. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.55 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed 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 of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analysts Set New Price Targets

Several brokerages have weighed in on GOOG. Barclays boosted their price objective on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Citigroup increased their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Five research 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.com, the company has an average rating of “Moderate Buy” and an average price target of $200.56.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 16,802 shares of the stock in a transaction dated 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 transaction, the insider now owns 43,999 shares of the company’s stock, valued at approximately $7,280,514.53. This represents a 27.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 163,624 shares of company stock valued at $27,803,730. 12.99% of the stock is owned by insiders.

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.