Axiom Advisory LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Axiom Advisory LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,353,600 shares of the information services provider’s stock after purchasing an additional 18,149 shares during the period. Alphabet accounts for about 2.1% of Axiom Advisory LLC’s holdings, making the stock its 11th biggest holding. Axiom Advisory LLC’s holdings in Alphabet were worth $229,100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GOOG. Cardinal Point Capital Management ULC boosted its position in Alphabet by 12.0% in the 3rd quarter. Cardinal Point Capital Management ULC now owns 9,707 shares of the information services provider’s stock valued at $1,623,000 after buying an additional 1,040 shares during the last quarter. Kesler Norman & Wride LLC boosted its position in Alphabet by 50.5% in the 3rd quarter. Kesler Norman & Wride LLC now owns 9,336 shares of the information services provider’s stock valued at $1,561,000 after buying an additional 3,133 shares during the last quarter. Callan Family Office LLC boosted its position in Alphabet by 27.8% in the 3rd quarter. Callan Family Office LLC now owns 23,907 shares of the information services provider’s stock valued at $3,997,000 after buying an additional 5,203 shares during the last quarter. Aprio Wealth Management LLC boosted its position in Alphabet by 9.2% in the 3rd quarter. Aprio Wealth Management LLC now owns 7,744 shares of the information services provider’s stock valued at $1,295,000 after buying an additional 650 shares during the last quarter. Finally, Chapin Davis Inc. boosted its position in Alphabet by 2.4% in the 3rd quarter. Chapin Davis Inc. now owns 10,038 shares of the information services provider’s stock valued at $1,678,000 after buying an additional 238 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 217,592 shares of company stock valued at $35,922,911 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $164.39 on Tuesday. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The stock has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.21, a PEG ratio of 1.21 and a beta of 1.04. The stock’s 50 day moving average price is $163.53 and its 200 day moving average price is $168.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter in the previous year, the company earned $1.44 earnings per share. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s payout ratio is 12.27%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Cantor Fitzgerald raised shares of 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 research report on Tuesday, September 10th. UBS Group reduced their price target on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday. TD Cowen increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Oppenheimer reduced their price target on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $184.11.

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.