Alphabet Inc. $GOOGL Shares Acquired by Oliver Luxxe Assets LLC

Key Points

• Oliver Luxxe Assets LLC has increased its stake in Alphabet Inc. by 42.0% during the second quarter, holding a total of 55,366 shares valued at approximately $9.76 million.
• Alphabet reported an earnings per share (EPS) of $2.31 for the last quarter, exceeding analyst expectations of $2.15, with quarterly revenue reaching $96.43 billion.
• The company announced a quarterly dividend of $0.21 per share with a yield of 0.3%, representing a dividend payout ratio of 8.95%.

Oliver Luxxe Assets LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 42.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 55,366 shares of the information services provider's stock after purchasing an additional 16,369 shares during the quarter. Alphabet makes up approximately 1.7% of Oliver Luxxe Assets LLC's investment portfolio, making the stock its 5th largest holding. Oliver Luxxe Assets LLC's holdings in Alphabet were worth $9,757,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Enzi Wealth increased its position in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after purchasing an additional 62 shares during the period. Park Capital Management LLC WI grew its position in shares of Alphabet by 1.1% during the 2nd quarter. Park Capital Management LLC WI now owns 6,005 shares of the information services provider's stock worth $1,058,000 after buying an additional 65 shares during the period. Wolff Financial Management LLC grew its position in shares of Alphabet by 2.6% during the 2nd quarter. Wolff Financial Management LLC now owns 2,632 shares of the information services provider's stock worth $464,000 after buying an additional 66 shares during the period. Whipplewood Advisors LLC grew its position in shares of Alphabet by 1.2% during the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after buying an additional 67 shares during the period. Finally, Aspire Capital Advisors LLC grew its position in shares of Alphabet by 1.0% during the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock worth $1,086,000 after buying an additional 67 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Price Performance

Shares of GOOGL opened at $247.14 on Thursday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The business's fifty day moving average is $213.46 and its 200 day moving average is $181.91. 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 $2.99 trillion, a P/E ratio of 26.32, a P/E/G ratio of 1.70 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its 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. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the firm's 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 owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% 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 valued at $52,405,304 in the last 90 days. Insiders own 11.64% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Rosenblatt Securities raised their price objective on shares of Alphabet from $191.00 to $224.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 3rd. KeyCorp raised their price objective on shares of Alphabet from $230.00 to $265.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Needham & Company LLC raised their price objective on shares of Alphabet from $220.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. Finally, JMP Securities raised their price objective on shares of Alphabet from $250.00 to $290.00 and gave the stock a "market outperform" rating in a research report on Friday, September 19th. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $231.31.

Alphabet Company 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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