Broadleaf Partners LLC Has $16.22 Million Stock Holdings in Alphabet Inc. $GOOG

Key Points

• Broadleaf Partners LLC increased its stake in Alphabet Inc. by 18.8%, holding a total of 103,840 shares valued at approximately $16.22 million.
• Alphabet reported strong financials, with a 13.8% increase in year-over-year revenue, totaling $96.43 billion and an earnings per share (EPS) of $2.31 for the last quarter.
• The company declared a quarterly dividend of $0.21 per share, which will yield an annualized dividend of 0.4% and is set to be paid on September 15th.

Broadleaf Partners LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 18.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,840 shares of the information services provider's stock after purchasing an additional 16,469 shares during the quarter. Alphabet accounts for about 4.2% of Broadleaf Partners LLC's holdings, making the stock its 6th biggest holding. Broadleaf Partners LLC's holdings in Alphabet were worth $16,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. ARQ Wealth Advisors LLC lifted its position in Alphabet by 39.3% during the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after purchasing an additional 1,400 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in shares of Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after acquiring an additional 1,376 shares during the last quarter. Fermata Advisors LLC lifted its holdings in shares of Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after acquiring an additional 259 shares during the last quarter. jvl associates llc lifted its holdings in shares of Alphabet by 3.5% in the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock worth $1,571,000 after acquiring an additional 343 shares during the last quarter. Finally, Members Trust Co lifted its holdings in shares of Alphabet by 84.7% in the 1st quarter. Members Trust Co now owns 4,999 shares of the information services provider's stock worth $781,000 after acquiring an additional 2,292 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 3.0%

Shares of NASDAQ GOOG opened at $206.72 on Friday. 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 52 week low of $142.66 and a 52 week high of $209.23. The firm's fifty day moving average is $187.71 and its 200 day moving average is $174.73. The company has a market cap of $2.50 trillion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.39 and a beta of 1.02.

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

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GOOG shares. Cowen restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Raymond James Financial restated an "outperform" rating and issued a $210.00 price objective (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Pivotal Research boosted their price objective on shares of Alphabet from $225.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $215.19.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares of the company's stock, valued at approximately $1,383,200. The trade was a 12.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 254,719 shares of company stock valued at $47,223,172 in the last 90 days. 12.99% of the stock is owned by company insiders.

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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