Affinity Capital Advisors LLC Acquires 1,389 Shares of Alphabet Inc. $GOOG

Key Points

• Affinity Capital Advisors LLC increased its holdings in Alphabet Inc. by 11.2%, owning 13,744 shares valued at approximately $2.44 million at the end of the last quarter.
• As of the recent earnings report, Alphabet reported $96.43 billion in revenue for the quarter, exceeding analysts' expectations, with an earnings per share of $2.31.
• Alphabet has declared a quarterly dividend of $0.21 per share, reflecting an annual yield of 0.3%, with a dividend payout ratio of 8.95%.

Affinity Capital Advisors LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,744 shares of the information services provider's stock after purchasing an additional 1,389 shares during the quarter. Affinity Capital Advisors LLC's holdings in Alphabet were worth $2,438,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GOOG. Principia Wealth Advisory LLC raised its position in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the first quarter worth about $26,000. Goodman Advisory Group LLC purchased a new stake in Alphabet in the first quarter worth about $32,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet during the first quarter valued at approximately $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new position in shares of Alphabet during the 1st quarter worth $34,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOG. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. The Goldman Sachs Group restated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. UBS Group raised their target price on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. KeyCorp set a $265.00 target price on shares of Alphabet in a research report on Wednesday, September 3rd. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $210.00 target price (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $227.56.

Alphabet Price Performance

GOOG stock traded up $2.91 during trading on Friday, reaching $255.24. The company's stock had a trading volume of 41,503,403 shares, compared to its average volume of 24,489,492. The company has a market capitalization of $3.09 trillion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. The company's fifty day moving average is $210.08 and its 200-day moving average is $181.65. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the transaction, the director directly owned 240,400 shares of the company's stock, valued at approximately $44,656,704. The trade was a 5.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director directly owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 258,088 shares of company stock valued at $52,405,304. Corporate insiders own 12.99% of the company's stock.

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.