Laffer Tengler Investments Inc. Acquires 1,600 Shares of Alphabet Inc. $GOOG

Laffer Tengler Investments Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 38.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,793 shares of the information services provider’s stock after purchasing an additional 1,600 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in Alphabet were worth $1,028,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GOOG. Vise Technologies Inc. purchased a new position in Alphabet in the second quarter valued at about $10,335,000. Allworth Financial LP raised its holdings in shares of Alphabet by 24.1% in the 2nd quarter. Allworth Financial LP now owns 282,506 shares of the information services provider’s stock worth $50,114,000 after purchasing an additional 54,898 shares during the period. Addison Advisors LLC raised its holdings in shares of Alphabet by 7.8% in the 2nd quarter. Addison Advisors LLC now owns 5,916 shares of the information services provider’s stock worth $1,049,000 after purchasing an additional 426 shares during the period. Americana Partners LLC lifted its stake in Alphabet by 15.3% in the second quarter. Americana Partners LLC now owns 30,648 shares of the information services provider’s stock valued at $5,437,000 after purchasing an additional 4,069 shares during the last quarter. Finally, Hughes Financial Services LLC grew its holdings in Alphabet by 21.2% during the second quarter. Hughes Financial Services LLC now owns 1,430 shares of the information services provider’s stock valued at $282,000 after purchasing an additional 250 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on GOOG. Sanford C. Bernstein boosted their target price on Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Cantor Fitzgerald set a $310.00 price objective on Alphabet and gave the stock a “neutral” rating in a report on Thursday, October 30th. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. HSBC reiterated a “buy” rating and set a $335.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Finally, Piper Sandler boosted their price target on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $324.81.

Alphabet Trading Up 0.4%

Shares of Alphabet stock opened at $291.74 on Wednesday. The company’s 50-day moving average price is $254.94 and its 200-day moving average price is $207.64. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $292.34. The company has a market cap of $3.53 trillion, a price-to-earnings ratio of 28.77, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Alphabet’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.12 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $282.33, for a total value of $269,342.82. Following the sale, the chief accounting officer owned 14,517 shares of the company’s stock, valued at $4,098,584.61. This trade represents a 6.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 221,796 shares of company stock valued at $53,983,001 in the last ninety days. 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.