Lowery Thomas LLC Makes New $203,000 Investment in Alphabet Inc. $GOOG

Key Points

• Lowery Thomas LLC has made a new investment of approximately $203,000 in Alphabet Inc., acquiring 1,146 shares in the second quarter.
• Alphabet recently reported earnings per share of $2.31, exceeding analyst expectations, and a revenue of $96.43 billion for the quarter, reflecting a 13.8% year-over-year growth.
• The company declared a quarterly dividend of $0.21, indicating a modest yield of 0.3% and a payout ratio of 8.95%.

Lowery Thomas LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,146 shares of the information services provider's stock, valued at approximately $203,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Robbins Farley boosted its position in 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. Principia Wealth Advisory LLC increased its holdings in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet in the first quarter valued at approximately $26,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet in the 1st quarter worth approximately $32,000. Finally, Goodman Advisory Group LLC acquired a new position in shares of Alphabet in the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $246.43 on Friday. The stock has a market cap of $2.98 trillion, a PE ratio of 26.24, a P/E/G ratio of 1.66 and a beta of 1.00. 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 firm has a 50-day moving average of $220.84 and a 200-day moving average of $186.43. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70.

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

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent analyst reports. Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. UBS Group raised their target price on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Oppenheimer reissued an "outperform" rating and set a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Jefferies Financial Group raised their price objective on shares of Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Roth Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $235.33.

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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