Campbell Capital Management Inc. Has $26.20 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Campbell Capital Management Inc. reduced its holdings in Alphabet Inc. by 1.0%, owning 167,674 shares valued at approximately $26.20 million, making it the firm's second largest holding.
• Alphabet reported a Q2 EPS of $2.31, beating estimates, and a revenue of $96.43 billion, reflecting a year-over-year growth of 13.8%.
• The company announced a quarterly dividend of $0.21 per share, with a payout ratio of 8.95%, scheduled for payment on September 15th.

Campbell Capital Management Inc. lessened its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 167,674 shares of the information services provider's stock after selling 1,770 shares during the period. Alphabet comprises 15.0% of Campbell Capital Management Inc.'s investment portfolio, making the stock its 2nd biggest holding. Campbell Capital Management Inc.'s holdings in Alphabet were worth $26,196,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GOOG. GAMMA Investing LLC raised its stake in shares of Alphabet by 18,562.3% during the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after purchasing an additional 14,246,573 shares during the period. Northern Trust Corp boosted its holdings in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after buying an additional 7,917,625 shares during the period. Capital International Investors grew its position in shares of Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after purchasing an additional 5,758,244 shares in the last quarter. Sanders Capital LLC increased its position in shares of Alphabet by 14.5% during the fourth quarter. Sanders Capital LLC now owns 33,504,543 shares of the information services provider's stock valued at $6,380,605,000 after buying an additional 4,247,379 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Alphabet during the 4th quarter valued at $786,942,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction that occurred 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 represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the completion of the transaction, the chief executive officer owned 2,494,892 shares of the company's stock, valued at approximately $489,572,657.16. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 273,219 shares of company stock worth $49,474,273. Insiders own 12.99% of the company's stock.

Alphabet Trading Up 0.2%

Shares of NASDAQ:GOOG traded up $0.36 on Thursday, hitting $197.28. The company had a trading volume of 14,292,926 shares, compared to its average volume of 25,208,792. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 1.31 and a beta of 1.02. The firm's 50-day simple moving average is $181.28 and its two-hundred day simple moving average is $174.68. 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 posted its 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 for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.89 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Susquehanna reissued a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $235.00 price objective (up previously from $220.00) on shares of Alphabet in a research note on Thursday, July 24th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $215.19.

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.