Lowery Thomas LLC Takes $203,000 Position in Alphabet Inc. $GOOG

Lowery Thomas LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, HoldingsChannel reports. The fund bought 1,146 shares of the information services provider’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also bought and sold shares of GOOG. Robbins Farley boosted its position in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares in the last quarter. Principia Wealth Advisory LLC lifted its stake in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at $26,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Alphabet in the 1st quarter valued at $32,000. Finally, Goodman Advisory Group LLC acquired a new position in shares of Alphabet during the 1st quarter worth $32,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.4%

Shares of NASDAQ:GOOG opened at $246.43 on Friday. The company has a quick ratio of 1.90, a current 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 $256.70. The business has a fifty day simple moving average of $220.84 and a 200 day simple moving average of $186.43. The firm has a market cap of $2.98 trillion, a P/E ratio of 26.24, a P/E/G ratio of 1.66 and a beta of 1.00.

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

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company’s stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’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. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of several research analyst reports. Jefferies Financial Group raised their price objective on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Raymond James Financial reaffirmed an “outperform” rating and set a $210.00 price target (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, UBS Group boosted their target price on shares of Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $235.33.

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.