Lowery Thomas LLC Takes Position in Alphabet Inc. (NASDAQ:GOOG)

Lowery Thomas LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,141 shares of the information services provider’s stock, valued at approximately $209,000.

Several other large investors also recently made changes to their positions in GOOG. Gilbert & Cook Inc. boosted its holdings in shares of Alphabet by 15.5% in the 4th quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock valued at $4,109,000 after buying an additional 3,924 shares during the last quarter. Concentrum Wealth Management lifted its holdings in Alphabet by 25.0% during the 4th quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock valued at $2,317,000 after purchasing an additional 3,283 shares during the last quarter. Aveo Capital Partners LLC lifted its holdings in Alphabet by 2.4% during the 4th quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock valued at $937,000 after purchasing an additional 154 shares during the last quarter. Jump Financial LLC lifted its holdings in Alphabet by 103.9% during the 4th quarter. Jump Financial LLC now owns 10,181 shares of the information services provider’s stock valued at $1,435,000 after purchasing an additional 5,188 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in Alphabet by 5.6% during the 4th quarter. QRG Capital Management Inc. now owns 674,645 shares of the information services provider’s stock valued at $95,078,000 after purchasing an additional 35,973 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now owns 3,727 shares in the company, valued at $663,107.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now owns 3,727 shares in the company, valued at $663,107.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of Alphabet 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 completion of the transaction, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,532 shares of company stock worth $34,055,874. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Down 4.1 %

Shares of NASDAQ GOOG opened at $152.13 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The stock has a market capitalization of $1.88 trillion, a P/E ratio of 23.33, a PEG ratio of 1.22 and a beta of 1.05. The stock’s fifty day moving average is $172.50 and its 200 day moving average is $165.78.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter last year, the business earned $1.44 earnings per share. Alphabet’s revenue was up 13.6% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have issued reports on GOOG. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday. TD Cowen raised their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Oppenheimer raised their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $182.86.

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.