Alphabet Inc. $GOOG Shares Acquired by Consolidated Portfolio Review Corp

Key Points

• Consolidated Portfolio Review Corp increased its holdings in Alphabet Inc. by 14.8% during Q2, acquiring an additional 1,885 shares, bringing its total to 14,633 shares worth $2,596,000.
• Insider sales included CEO Sundar Pichai selling 32,500 shares for approximately $5.99 million, reducing his ownership by 1.27%.
• Alphabet's quarterly earnings surpassed expectations, reporting $2.31 EPS and revenues of $96.43 billion, marking a 13.8% year-over-year increase.

Consolidated Portfolio Review Corp lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 14.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,633 shares of the information services provider's stock after buying an additional 1,885 shares during the quarter. Consolidated Portfolio Review Corp's holdings in Alphabet were worth $2,596,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Victrix Investment Advisors raised its stake in shares of Alphabet by 9.6% during the 2nd quarter. Victrix Investment Advisors now owns 6,229 shares of the information services provider's stock worth $1,105,000 after buying an additional 546 shares during the last quarter. Brueske Advisory Services LLC raised its stake in shares of Alphabet by 2.7% during the 2nd quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider's stock worth $389,000 after buying an additional 58 shares during the last quarter. PBMares Wealth Management LLC raised its stake in shares of Alphabet by 1.5% during the 2nd quarter. PBMares Wealth Management LLC now owns 5,779 shares of the information services provider's stock worth $1,025,000 after buying an additional 84 shares during the last quarter. Requisite Capital Management LLC raised its stake in shares of Alphabet by 9.5% during the 2nd quarter. Requisite Capital Management LLC now owns 5,165 shares of the information services provider's stock worth $916,000 after buying an additional 449 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. raised its stake in shares of Alphabet by 8.6% during the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 48,295 shares of the information services provider's stock worth $8,567,000 after buying an additional 3,813 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the sale, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This 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 276,738 shares of company stock valued at $59,135,475 in the last three months. Corporate insiders own 12.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GOOG. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Barclays reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Robert W. Baird boosted their target price on shares of Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. Finally, Mizuho raised shares of Alphabet to a "strong-buy" rating in a research note on Monday. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $235.33.

Alphabet Stock Up 0.4%

NASDAQ GOOG opened at $246.43 on Friday. The stock has a market cap of $2.98 trillion, a PE ratio of 26.24, a P/E/G ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. The business has a 50 day moving average price of $220.84 and a two-hundred day moving average price of $186.43. 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 (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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

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.

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