Bowie Capital Management LLC Buys 70,564 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Bowie Capital Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.7% during the second quarter, Holdings Channel reports. The firm owned 585,963 shares of the information services provider’s stock after buying an additional 70,564 shares during the period. Alphabet comprises 6.5% of Bowie Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Bowie Capital Management LLC’s holdings in Alphabet were worth $106,733,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Nebula Research & Development LLC acquired a new position in shares of Alphabet in the 4th quarter worth approximately $787,000. New Hampshire Trust boosted its holdings in shares of Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after acquiring an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. acquired a new position in shares of Alphabet in the 1st quarter worth approximately $359,000. Schneider Downs Wealth Management Advisors LP boosted its holdings in shares of Alphabet by 58.4% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after acquiring an additional 2,351 shares in the last quarter. Finally, Johnson Financial Group Inc. boosted its holdings in shares of Alphabet by 14.5% in the 4th quarter. Johnson Financial Group Inc. now owns 21,803 shares of the information services provider’s stock worth $3,046,000 after acquiring an additional 2,763 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,167 shares of company stock valued at $29,762,606. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $163.59 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a fifty day simple moving average of $164.72 and a 200 day simple moving average of $165.55. The stock has a market cap of $2.02 trillion, a P/E ratio of 25.09, a P/E/G ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during 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 in the prior year, the business earned $1.44 EPS. On average, research analysts expect that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GOOGL. BMO Capital Markets reissued an “outperform” rating and issued a $222.00 target price on shares of Alphabet in a report on Monday, September 16th. Royal Bank of Canada boosted their target price on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Wolfe Research initiated coverage on Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price on the stock. Rosenblatt Securities restated a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. Finally, DA Davidson initiated coverage on shares of Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $201.08.

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.