Alphabet Inc. $GOOG is DLK Investment Management LLC's 3rd Largest Position

Key Points

• DLK Investment Management LLC increased its stake in Alphabet Inc. by 2.8%, owning a total of 66,377 shares valued at approximately $11.77 million, making it the fund's third largest holding.
• Alphabet recently reported a quarterly earnings per share (EPS) of $2.31, exceeding analyst estimates, along with a revenue of $96.43 billion, marking a 13.8% year-over-year increase.
• The company declared a quarterly dividend of $0.21, resulting in an annualized dividend yield of 0.3% and a dividend payout ratio of 8.95%.

DLK Investment Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,377 shares of the information services provider's stock after purchasing an additional 1,795 shares during the period. Alphabet makes up approximately 4.5% of DLK Investment Management LLC's holdings, making the stock its 3rd biggest position. DLK Investment Management LLC's holdings in Alphabet were worth $11,775,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after acquiring an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG increased its position in shares of Alphabet by 4.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock valued at $96,465,000 after purchasing an additional 20,855 shares during the last quarter. NCM Capital Management LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at about $522,000. Ames National Corp purchased a new stake in shares of Alphabet during the 4th quarter valued at about $2,046,000. Finally, Note Advisors LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at about $1,268,000. Institutional investors own 27.26% of the company's stock.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director owned 5,716 shares in the company, valued at $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the transaction, the director directly owned 240,400 shares of the company's stock, valued at $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 258,088 shares of company stock valued at $52,405,304 over the last quarter. Company insiders own 12.99% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on GOOG shares. Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. UBS Group upped their price target on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Finally, Roth Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $227.56.

Alphabet Trading Up 1.2%

Shares of NASDAQ:GOOG traded up $2.91 on Friday, hitting $255.24. 41,503,403 shares of the company's stock were exchanged, compared to its average volume of 24,489,492. The stock has a market capitalization of $3.09 trillion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The business's 50 day simple moving average is $210.08 and its two-hundred day simple moving average is $181.65.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the firm posted $1.89 earnings per share. The business's revenue for the quarter was up 13.8% on a year-over-year basis. Analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

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.