Alphabet Inc. $GOOG Shares Bought by LRI Investments LLC

Key Points

• LRI Investments LLC increased its stake in Alphabet Inc. by 9.8%, holding a total of 17,020 shares valued at approximately $3.02 million at the end of the second quarter.
• Meanwhile, several insiders have sold shares recently, including CEO Sundar Pichai, who sold 32,500 shares for around $8.11 million.
• Alphabet's latest financial performance shows a 13.8% increase in revenue year-over-year, with $2.31 earnings per share reported, exceeding analysts' estimates.

LRI Investments LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,020 shares of the information services provider's stock after acquiring an additional 1,513 shares during the period. LRI Investments LLC's holdings in Alphabet were worth $3,019,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. ACT Advisors LLC. boosted its position in Alphabet by 3.5% in the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider's stock valued at $288,000 after buying an additional 55 shares during the period. LongView Wealth Management lifted its position in shares of Alphabet by 1.1% during the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider's stock worth $909,000 after purchasing an additional 56 shares during the last quarter. Kooman & Associates lifted its position in shares of Alphabet by 1.4% during the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider's stock worth $732,000 after purchasing an additional 56 shares during the last quarter. Colton Groome Financial Advisors LLC lifted its position in shares of Alphabet by 3.4% during the 2nd quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider's stock worth $309,000 after purchasing an additional 57 shares during the last quarter. Finally, Brueske Advisory Services LLC lifted its position 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 purchasing an additional 58 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 other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly 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 SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 244,438 shares of company stock valued at $53,216,085. Company insiders own 12.99% of the company's stock.

Alphabet Price Performance

Shares of GOOG opened at $251.71 on Thursday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70. The stock has a market cap of $3.04 trillion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a fifty day moving average price of $230.06 and a 200 day moving average price of $191.42.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet'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. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GOOG shares. UBS Group set a $255.00 price objective on shares of Alphabet and gave the stock a "neutral" rating in a research report on Thursday, October 9th. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Morgan Stanley lifted their price objective on shares of Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Jefferies Financial Group lifted their price objective on shares of Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Finally, Lake Street Capital reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $241.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.