Lion Street Advisors LLC Purchases 1,242 Shares of Alphabet Inc. $GOOG

Key Points

• Lion Street Advisors LLC increased its holdings in Alphabet Inc. by 24.3% after purchasing an additional 1,242 shares during the 2nd quarter, bringing its total to 6,350 shares valued at approximately $1,126,000.
• Alphabet reported $2.31 earnings per share for the last quarter, exceeding analysts' estimates of $2.12, with revenue of $96.43 billion, a 13.8% increase from the previous year.
• The firm announced a quarterly dividend of $0.21 per share, representing an annualized yield of 0.3% and a payout ratio of 8.95%.

Lion Street Advisors LLC raised its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 24.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,350 shares of the information services provider's stock after buying an additional 1,242 shares during the quarter. Lion Street Advisors LLC's holdings in Alphabet were worth $1,126,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. RDA Financial Network increased its holdings in Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock valued at $1,968,000 after buying an additional 554 shares during the period. Tower View Wealth Management LLC increased its holdings in Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider's stock valued at $4,904,000 after buying an additional 1,776 shares during the period. Oldfather Financial Services LLC bought a new position in Alphabet in the 2nd quarter valued at about $213,000. Truist Financial Corp increased its holdings in Alphabet by 0.4% in the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider's stock valued at $643,381,000 after buying an additional 15,065 shares during the period. Finally, GC Wealth Management RIA LLC increased its holdings in Alphabet by 115.7% in the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider's stock valued at $38,031,000 after buying an additional 115,003 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Up 0.1%

GOOG opened at $251.88 on Friday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $257.58. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 26.82, a PEG ratio of 1.70 and a beta of 1.00. The company's 50 day moving average price is $231.15 and its two-hundred day moving average price is $192.08.

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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period in the previous year, the firm posted $1.89 EPS. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director directly owned 5,116 shares of the company's stock, valued at $1,242,778.72. The trade was a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 103 shares of the business's stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director directly owned 17,284 shares in the company, valued at $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 210,872 shares of company stock worth $46,980,865. Company insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on GOOG shares. KeyCorp set a $265.00 target price on shares of Alphabet in a report on Wednesday, September 3rd. Scotiabank reaffirmed an "outperform" rating and set a $310.00 price target on shares of Alphabet in a report on Thursday. Hsbc Global Res raised shares of Alphabet to a "strong-buy" rating in a report on Tuesday, October 7th. Oppenheimer reaffirmed an "outperform" rating and set a $270.00 price target (up from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Finally, BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $244.68.

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.

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