15,382 Shares in Alphabet Inc. $GOOGL Purchased by Oliver Lagore Vanvalin Investment Group

Key Points

• Oliver Lagore Vanvalin Investment Group acquired 15,382 shares of Alphabet Inc., valued at approximately $2.71 million, making it the group's 29th largest holding.
• Alphabet's CEO, Sundar Pichai, sold 32,500 shares recently, decreasing his ownership stake by 1.32% while the total insider sales amounted to over $52 million in the last ninety days.
• Alphabet reported strong quarterly earnings with an EPS of $2.31, surpassing estimates, and announced a quarterly dividend of $0.21 per share, reflecting a dividend yield of 0.3%.

Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,382 shares of the information services provider's stock, valued at approximately $2,711,000. Alphabet comprises about 1.0% of Oliver Lagore Vanvalin Investment Group's investment portfolio, making the stock its 29th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Clare Market Investments LLC raised its position in shares of Alphabet by 1.5% in the second quarter. Clare Market Investments LLC now owns 88,494 shares of the information services provider's stock valued at $15,595,000 after purchasing an additional 1,279 shares during the period. Legacy Financial Strategies LLC boosted its holdings in Alphabet by 13.2% in the 2nd quarter. Legacy Financial Strategies LLC now owns 7,288 shares of the information services provider's stock worth $1,284,000 after buying an additional 849 shares during the period. Arkfeld Wealth Strategies L.L.C. grew its stake in Alphabet by 0.9% in the 2nd quarter. Arkfeld Wealth Strategies L.L.C. now owns 41,456 shares of the information services provider's stock valued at $7,329,000 after buying an additional 367 shares in the last quarter. Kozak & Associates Inc. raised its holdings in Alphabet by 6.8% during the 2nd quarter. Kozak & Associates Inc. now owns 4,118 shares of the information services provider's stock valued at $727,000 after acquiring an additional 262 shares during the period. Finally, Voisard Asset Management Group Inc. lifted its position in shares of Alphabet by 9.9% during the second quarter. Voisard Asset Management Group Inc. now owns 4,703 shares of the information services provider's stock worth $829,000 after acquiring an additional 423 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 258,088 shares of company stock worth $52,405,304 over the last ninety days. 11.55% of the stock is owned by insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $254.72 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.08 trillion, a PE ratio of 27.13, a PEG ratio of 1.72 and a beta of 1.01. The company's fifty day moving average is $209.36 and its 200 day moving average is $180.41. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Analyst Ratings Changes

Several brokerages have recently weighed in on GOOGL. Canaccord Genuity Group lifted their price target on Alphabet from $230.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, September 4th. Barclays lifted their target price on Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Roth Capital upped their price target on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Wells Fargo & Company raised their price objective on shares of Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Finally, BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research note on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $225.54.

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.

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