Optas LLC Has $16.68 Million Position in Alphabet Inc. (NASDAQ:GOOG)

03 Nov 2024, 17:15 by Kim Johansen · The Markets Daily

Optas LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,740 shares of the information services provider’s stock after purchasing an additional 4,722 shares during the quarter. Alphabet makes up approximately 3.8% of Optas LLC’s holdings, making the stock its 6th largest holding. Optas LLC’s holdings in Alphabet were worth $16,676,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Abich Financial Wealth Management LLC grew its position in shares of Alphabet by 9,200.0% in 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. bought a new stake in Alphabet in the second quarter valued at $37,000. HWG Holdings LP bought a new stake in Alphabet in the second quarter valued at $40,000. Slocum Gordon & Co LLP purchased a new position in Alphabet during the 2nd quarter valued at $44,000. Finally, Hoese & Co LLP raised its holdings in Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,244 shares of company stock valued at $37,776,954 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GOOG has been the topic of several research analyst reports. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Canaccord Genuity Group upped their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Pivotal Research lifted their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company increased their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.56.

View Our Latest Report on GOOG

Alphabet Price Performance

Shares of GOOG opened at $172.65 on Friday. The company has a market capitalization of $2.13 trillion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 1.24 and a beta of 1.04. Alphabet Inc. has a twelve month low of $128.11 and a twelve month high of $193.31. The company has a quick ratio of 2.08, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $163.81 and a 200 day moving average of $170.53.

Alphabet (NASDAQ:GOOG – Get Free Report) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Alphabet Company Profile

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