LexAurum Advisors LLC Purchases 2,670 Shares of Alphabet Inc. $GOOG

Key Points

• LexAurum Advisors LLC increased its stake in Alphabet Inc. by 24.1%, owning 13,745 shares worth approximately $2.4 million after purchasing an additional 2,670 shares in Q2.
• Insider trading activity included CEO Sundar Pichai selling 32,500 shares for nearly $6 million, reducing his ownership by 1.27%.
• Alphabet's quarterly earnings report exceeded expectations, showing $2.31 earnings per share and a revenue of $96.43 billion, indicating a year-over-year revenue growth of 13.8%.

LexAurum Advisors LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 24.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,745 shares of the information services provider's stock after buying an additional 2,670 shares during the quarter. LexAurum Advisors LLC's holdings in Alphabet were worth $2,438,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Elser Financial Planning Inc bought a new position in shares of Alphabet during the 2nd quarter worth $859,000. Oakworth Capital Inc. grew its position in shares of Alphabet by 3.4% during the 2nd quarter. Oakworth Capital Inc. now owns 182,756 shares of the information services provider's stock worth $32,419,000 after buying an additional 6,021 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC grew its position in shares of Alphabet by 22.0% during the 2nd quarter. Baron Silver Stevens Financial Advisors LLC now owns 8,258 shares of the information services provider's stock worth $1,465,000 after buying an additional 1,491 shares in the last quarter. Avondale Wealth Management grew its position in shares of Alphabet by 201.4% during the 2nd quarter. Avondale Wealth Management now owns 2,110 shares of the information services provider's stock worth $374,000 after buying an additional 1,410 shares in the last quarter. Finally, Oceanside Advisors LLC bought a new position in shares of Alphabet during the 2nd quarter worth $227,000. Institutional investors own 27.26% of the company's stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the firm'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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 243,285 shares of company stock valued at $50,994,787. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Raymond James Financial reissued an "outperform" rating and set a $210.00 price target (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Robert W. Baird raised their price objective on Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a research report on Monday, September 22nd. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. KeyCorp set a $265.00 price objective on Alphabet in a research report on Wednesday, September 3rd. Finally, Mizuho raised Alphabet to a "strong-buy" rating in a research report on Monday. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $230.35.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $245.54 on Thursday. 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 $2.97 trillion, a PE ratio of 26.15, a P/E/G ratio of 1.64 and a beta of 1.00. The business has a 50-day simple moving average of $219.78 and a two-hundred day simple moving average of $185.88. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion during 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 company's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company earned $1.89 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Alphabet 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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