Alphabet Inc. (NASDAQ:GOOGL) Position Raised by LCM Capital Management Inc

LCM Capital Management Inc lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,580 shares of the information services provider’s stock after buying an additional 603 shares during the period. Alphabet makes up 2.0% of LCM Capital Management Inc’s portfolio, making the stock its 10th biggest position. LCM Capital Management Inc’s holdings in Alphabet were worth $3,337,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. raised its stake in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the period. IMA Advisory Services Inc. bought a new stake in Alphabet during the 1st quarter valued at approximately $28,000. von Borstel & Associates Inc. bought a new stake in Alphabet during the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC raised its stake in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new stake in Alphabet during the 1st quarter valued at approximately $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.2%

NASDAQ:GOOGL opened at $201.00 on Tuesday. The firm has a market cap of $2.43 trillion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.36 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $181.53 and a 200 day moving average price of $172.81. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00. Following the sale, the chief executive officer owned 2,494,892 shares in the company, valued at $489,572,657.16. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 274,219 shares of company stock valued at $49,674,273 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on GOOGL shares. Wells Fargo & Company lifted their target price on Alphabet from $184.00 to $187.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 29th. KeyCorp lifted their price objective on Alphabet from $215.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Oppenheimer lifted their price objective on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Bank of America lifted their price objective on Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Royal Bank Of Canada lifted their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $211.53.

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.