Alphabet Inc. $GOOGL is Buckhead Capital Management LLC’s 6th Largest Position

Buckhead Capital Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 18.2% during the second quarter, HoldingsChannel.com reports. The firm owned 32,571 shares of the information services provider’s stock after selling 7,260 shares during the quarter. Alphabet makes up about 2.2% of Buckhead Capital Management LLC’s portfolio, making the stock its 6th largest holding. Buckhead Capital Management LLC’s holdings in Alphabet were worth $5,740,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. increased its holdings in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares in the last quarter. IMA Advisory Services Inc. purchased a new stake in Alphabet during the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC increased its stake in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. CarsonAllaria Wealth Management Ltd. raised its holdings in Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after buying an additional 67 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet in the first quarter worth about $39,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $291.31 on Wednesday. The firm’s 50 day moving average price is $254.37 and its 200-day moving average price is $206.73. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $3.52 trillion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $291.92.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director owned 5,116 shares in the company, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the sale, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 221,796 shares of company stock valued at $53,983,001. Company insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on GOOGL. The Goldman Sachs Group increased their price target on shares of Alphabet from $288.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Citic Securities upped their price objective on Alphabet from $230.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Piper Sandler reiterated an “overweight” rating and set a $330.00 target price (up from $285.00) on shares of Alphabet in a research note on Thursday, October 30th. JPMorgan Chase & Co. boosted their price target on Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Daiwa Capital Markets upped their price target on Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $304.10.

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.