Orleans Capital Management Corp LA Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Orleans Capital Management Corp LA increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,070 shares of the information services provider’s stock after purchasing an additional 1,635 shares during the quarter. Alphabet makes up about 2.0% of Orleans Capital Management Corp LA’s holdings, making the stock its 16th biggest position. Orleans Capital Management Corp LA’s holdings in Alphabet were worth $3,109,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc grew its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the period. Kings Path Partners LLC bought a new stake in shares of Alphabet in the second quarter valued at $36,000. Tributary Capital Management LLC purchased a new position in shares of Alphabet during the 1st quarter valued at $30,000. Denver PWM LLC bought a new position in shares of Alphabet during the 2nd quarter worth $41,000. Finally, Quarry LP purchased a new stake in Alphabet in the 2nd quarter worth about $53,000. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 216,092 shares of company stock worth $35,644,136. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $162.08 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 fifty-two week low of $120.21 and a fifty-two week high of $191.75. The firm has a market cap of $2.00 trillion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The business has a 50 day moving average price of $161.62 and a 200-day moving average price of $167.57.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business 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 quarter last year, the firm earned $1.44 EPS. Equities research analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. 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 12.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GOOGL shares. Mizuho 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. Tigress Financial lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Truist Financial restated a “buy” rating and set a $196.00 target price on shares of Alphabet in a research report on Monday, September 16th. TD Securities lifted their price target on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Finally, Argus increased their price objective on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $200.95.

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.