Alphabet Inc. (NASDAQ:GOOG) is Campbell Capital Management Inc.’s 2nd Largest Position

Campbell Capital Management Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 167,674 shares of the information services provider’s stock after selling 1,770 shares during the quarter. Alphabet accounts for about 15.0% of Campbell Capital Management Inc.’s portfolio, making the stock its 2nd biggest position. Campbell Capital Management Inc.’s holdings in Alphabet were worth $26,196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. JDM Financial Group LLC grew its holdings in shares of Alphabet by 10.6% in the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock valued at $113,000 after acquiring an additional 57 shares in the last quarter. Objectivity Squared LLC grew its holdings in Alphabet by 0.4% during the first quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider’s stock valued at $2,605,000 after purchasing an additional 62 shares during the period. Tranquility Partners LLC grew its holdings in Alphabet by 0.4% during the first quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock valued at $2,263,000 after purchasing an additional 63 shares during the period. Stonebridge Financial Group LLC grew its holdings in Alphabet by 0.6% during the first quarter. Stonebridge Financial Group LLC now owns 10,648 shares of the information services provider’s stock valued at $1,664,000 after purchasing an additional 64 shares during the period. Finally, True Wealth Design LLC grew its holdings in Alphabet by 28.5% during the fourth quarter. True Wealth Design LLC now owns 293 shares of the information services provider’s stock valued at $56,000 after purchasing an additional 65 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.2%

GOOG stock opened at $195.32 on Wednesday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The business’s 50 day moving average price is $180.32 and its two-hundred day moving average price is $174.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 1.30 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the prior year, the business earned $1.89 EPS. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s payout ratio is currently 8.95%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the sale, the chief executive officer directly owned 2,527,392 shares of the company’s stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 400 shares of the business’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the sale, the director directly owned 6,013 shares in the company, valued at approximately $1,094,245.74. This represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,899 shares of company stock valued at $38,459,044 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GOOG shares. Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Needham & Company LLC lowered Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. Cowen restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Barclays restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, KeyCorp lowered their price target on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $215.19.

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.