LCM Capital Management Inc Acquires 549 Shares of Alphabet Inc. (NASDAQ:GOOGL)

LCM Capital Management Inc raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,506 shares of the information services provider’s stock after purchasing an additional 549 shares during the quarter. Alphabet comprises 2.3% of LCM Capital Management Inc’s investment portfolio, making the stock its 9th biggest position. LCM Capital Management Inc’s holdings in Alphabet were worth $3,735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GOOGL. MorganRosel Wealth Management LLC grew its holdings in shares of Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares in the last quarter. Hengehold Capital Management LLC boosted its position in shares of Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after acquiring an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc boosted its position in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Joseph P. Lucia & Associates LLC boosted its position in shares of Alphabet by 1.0% in the first quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock worth $1,000,000 after acquiring an additional 64 shares during the last quarter. Finally, Sunflower Bank N.A. boosted its position in shares of Alphabet by 1.0% in the second quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock worth $1,149,000 after acquiring an additional 65 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, 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 have sold a total of 179,367 shares of company stock worth $30,016,931 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GOOGL shares. Argus raised their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. TD Securities lifted their price target on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Royal Bank of Canada lifted their price target on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. BMO Capital Markets reaffirmed an “outperform” rating and set a $222.00 price target on shares of Alphabet in a research report on Tuesday, August 6th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $206.00 price target on shares of Alphabet in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Trading Up 1.8 %

GOOGL opened at $157.46 on Friday. The firm’s fifty day moving average is $167.46 and its two-hundred day moving average is $164.67. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a market cap of $1.94 trillion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its earnings results 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 company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the business posted $1.44 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s payout ratio is 12.27%.

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.