Alphabet Inc. $GOOGL Shares Bought by Childress Capital Advisors LLC

Childress Capital Advisors LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 23,457 shares of the information services provider’s stock after acquiring an additional 1,472 shares during the quarter. Alphabet comprises approximately 1.0% of Childress Capital Advisors LLC’s holdings, making the stock its 21st largest position. Childress Capital Advisors LLC’s holdings in Alphabet were worth $4,134,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. boosted its position in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares during the period. IMA Advisory Services Inc. acquired a new position in Alphabet during the 1st quarter worth $28,000. von Borstel & Associates Inc. acquired a new position in Alphabet during the 1st quarter worth $28,000. NBZ Investment Advisors LLC boosted its position in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet during the 1st quarter worth $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Down 1.9%

NASDAQ:GOOGL opened at $245.76 on Wednesday. The firm has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.69 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average price is $223.41 and its 200 day moving average price is $187.13.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 276,738 shares of company stock valued at $59,135,475. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GOOGL shares. Guggenheim upped their price objective on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $201.00 price objective on shares of Alphabet in a report on Wednesday, September 24th. Wolfe Research upped their price objective on Alphabet from $220.00 to $290.00 in a report on Tuesday, September 30th. Tigress Financial upped their price objective on Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a report on Friday, September 5th. Finally, DA Davidson upped their price objective on Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.98.

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.