Country Club Bank Purchases 7,412 Shares of Alphabet Inc. $GOOG

Key Points

• Country Club Bank increased its stake in Alphabet Inc. by 5.5%, buying an additional 7,412 shares, bringing its total holdings to 141,910 shares valued at approximately $25.3 million.
• Alphabet recently reported quarterly earnings with an earnings per share of $2.31, which surpassed analysts' expectations of $2.12, along with a revenue of $96.43 billion, up 13.8% year-over-year.
• The company also declared a quarterly dividend of $0.21 per share, representing a 0.3% dividend yield and contributing to an annual dividend payout of $0.84.

Country Club Bank lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 141,910 shares of the information services provider's stock after purchasing an additional 7,412 shares during the period. Alphabet accounts for approximately 1.6% of Country Club Bank's investment portfolio, making the stock its 12th biggest holding. Country Club Bank's holdings in Alphabet were worth $25,298,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. IFS Advisors LLC boosted its holdings in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock valued at $27,000 after purchasing an additional 120 shares during the period. Robbins Farley raised its position in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after buying an additional 60 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at approximately $26,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet in the first quarter valued at approximately $32,000. Finally, Goodman Advisory Group LLC acquired a new stake in Alphabet during the first quarter worth approximately $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Alphabet stock opened at $242.21 on Friday. The stock has a market cap of $2.93 trillion, a PE ratio of 25.79, a P/E/G ratio of 1.66 and a beta of 1.00. 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 12-month low of $142.66 and a 12-month high of $256.70. The business's 50-day moving average price is $226.01 and its two-hundred day moving average price is $189.21.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted 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 company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company posted $1.89 EPS. As a group, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction 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 owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,738 shares of company stock worth $59,135,475. Insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

GOOG has been the subject of several analyst reports. Morgan Stanley lifted their price objective on Alphabet from $210.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, October 2nd. KeyCorp set a $265.00 price target on Alphabet in a research note on Wednesday, September 3rd. Cowen reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a research report on Wednesday. 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 stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $241.00.

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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