Kercheville Advisors LLC Grows Position in Alphabet Inc. $GOOG

Key Points

• Kercheville Advisors LLC increased its stake in Alphabet Inc. by 2.1% in the second quarter, now owning 58,504 shares valued at approximately $10.38 million.
• Alphabet's stock reported a 1.7% decline, opening at $247.13, with a market cap of $2.99 trillion and a price-to-earnings ratio of 26.32.
• In its most recent earnings report, Alphabet exceeded analysts' expectations, posting earnings per share of $2.31 against a forecast of $2.12, contributing to a 13.8% year-over-year revenue growth.

Kercheville Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,504 shares of the information services provider's stock after acquiring an additional 1,192 shares during the quarter. Alphabet accounts for 3.6% of Kercheville Advisors LLC's portfolio, making the stock its 9th biggest holding. Kercheville Advisors LLC's holdings in Alphabet were worth $10,378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. IFS Advisors LLC boosted its holdings in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock worth $27,000 after acquiring an additional 120 shares in the last quarter. IVC Wealth Advisors LLC bought a new stake in Alphabet in the second quarter worth $281,000. IMC Chicago LLC boosted its holdings in Alphabet by 40.8% in the second quarter. IMC Chicago LLC now owns 330,065 shares of the information services provider's stock worth $58,550,000 after acquiring an additional 95,642 shares in the last quarter. Iron Horse Wealth Management LLC raised its stake in shares of Alphabet by 94.5% in the second quarter. Iron Horse Wealth Management LLC now owns 704 shares of the information services provider's stock worth $125,000 after purchasing an additional 342 shares during the last quarter. Finally, Simplicity Wealth LLC raised its stake in shares of Alphabet by 53.1% in the second quarter. Simplicity Wealth LLC now owns 48,118 shares of the information services provider's stock worth $8,536,000 after purchasing an additional 16,679 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Down 1.7%

GOOG stock opened at $247.13 on Wednesday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. The business's 50-day moving average is $224.07 and its two-hundred day moving average is $188.32. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $2.99 trillion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.70 and a beta of 1.00.

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, beating analysts' consensus estimates of $2.12 by $0.19. 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 the consensus estimate of $93.67 billion. During the same quarter in the prior year, the company earned $1.89 earnings per share. Alphabet's revenue was up 13.8% on a year-over-year basis. As a group, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently weighed in on GOOG shares. Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a research note on Saturday, September 27th. Oppenheimer restated an "outperform" rating and issued a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Scotiabank boosted their price target on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, July 22nd. Finally, BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $235.33.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O'toole sold 953 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frances Arnold sold 103 shares of the company's stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares of the company's stock, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 276,738 shares of company stock valued at $59,135,475. 12.99% of the stock is currently owned by corporate 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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