Hanlon Investment Management Inc. Has $422,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Hanlon Investment Management Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,300 shares of the information services provider’s stock after buying an additional 252 shares during the period. Hanlon Investment Management Inc.’s holdings in Alphabet were worth $422,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Partnership Wealth Management LLC acquired a new stake in Alphabet during the fourth quarter valued at $26,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet during the 2nd quarter worth about $37,000. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet during the 4th quarter valued at about $34,000. Slocum Gordon & Co LLP bought a new stake in shares of Alphabet in the 2nd quarter valued at approximately $44,000. Finally, Hoese & Co LLP grew its stake in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the sale, the chief executive officer now owns 2,227,385 shares in the company, valued at $415,941,874.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now owns 39,334 shares in the company, valued at $6,307,206.90. The disclosure for this sale can be found here. Insiders sold a total of 200,532 shares of company stock worth $34,055,874 in the last ninety days. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Down 1.7 %

Alphabet stock opened at $149.54 on Tuesday. The firm has a market cap of $1.84 trillion, a price-to-earnings ratio of 22.94, a P/E/G ratio of 1.13 and a beta of 1.04. The firm has a fifty day moving average price of $171.80 and a two-hundred day moving average price of $165.96. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of analyst reports. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. Oppenheimer increased their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Finally, TD Cowen upped their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $182.86.

Alphabet Company 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.