Addison Capital Co Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Addison Capital Co boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 13.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,084 shares of the information services provider’s stock after purchasing an additional 375 shares during the quarter. Addison Capital Co’s holdings in Alphabet were worth $566,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in shares of Alphabet during the fourth quarter valued at approximately $8,232,000. GUNN & Co INVESTMENT MANAGEMENT INC. increased its stake in Alphabet by 964.3% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 482,698 shares of the information services provider’s stock worth $68,027,000 after purchasing an additional 437,345 shares during the period. KFA Private Wealth Group LLC lifted its position in shares of Alphabet by 6.9% during the fourth quarter. KFA Private Wealth Group LLC now owns 6,258 shares of the information services provider’s stock worth $882,000 after purchasing an additional 405 shares during the last quarter. Alesco Advisors LLC grew its holdings in shares of Alphabet by 12.2% in the fourth quarter. Alesco Advisors LLC now owns 2,756 shares of the information services provider’s stock worth $388,000 after purchasing an additional 300 shares during the last quarter. Finally, Spinnaker Trust grew its holdings in shares of Alphabet by 2.1% in the fourth quarter. Spinnaker Trust now owns 110,841 shares of the information services provider’s stock worth $15,621,000 after purchasing an additional 2,278 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of several research reports. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Oppenheimer increased their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. Finally, TD Cowen increased their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $182.86.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. The disclosure for this sale can be found here. Insiders sold 179,065 shares of company stock valued at $31,025,543 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of Alphabet stock traded down $0.02 during trading hours on Monday, reaching $167.41. The stock had a trading volume of 3,497,706 shares, compared to its average volume of 20,207,568. The stock’s 50 day moving average is $176.34 and its 200 day moving average is $164.76. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The firm has a market capitalization of $2.07 trillion, a PE ratio of 25.63, a PEG ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued 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. 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 the consensus estimate of $84.22 billion. During the same quarter in the prior year, the business posted $1.44 earnings per share. Alphabet’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities analysts expect that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.