McAdam LLC Grows Holdings in Alphabet Inc. $GOOGL

Key Points

• McAdam LLC increased its holdings in Alphabet Inc. by 17.0% during Q2, owning 13,110 shares valued at $2,310,000 after purchasing an additional 1,905 shares.
• Alphabet reported $2.31 EPS for the latest quarter, exceeding analyst estimates, while total revenue reached $96.43 billion, surpassing predictions of $93.60 billion.
• The company also declared a quarterly dividend of $0.21 per share, translating to an annualized yield of 0.3% and a payout ratio of 8.95%.

McAdam LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,110 shares of the information services provider's stock after purchasing an additional 1,905 shares during the period. McAdam LLC's holdings in Alphabet were worth $2,310,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Guardian Wealth Management Inc. lifted its stake in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. bought a new position in Alphabet during the 1st quarter worth approximately $28,000. IMA Advisory Services Inc. purchased a new position in Alphabet in the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC lifted its position in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the first quarter valued at approximately $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.3%

GOOGL stock opened at $246.54 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $215.93 and a 200 day moving average of $183.28. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The firm has a market cap of $2.98 trillion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 1.66 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several analyst reports. JMP Securities lifted their target price on shares of Alphabet from $250.00 to $290.00 and gave the stock a "market outperform" rating in a research note on Friday, September 19th. Loop Capital restated a "hold" rating and issued a $190.00 price objective (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Cantor Fitzgerald reiterated a "neutral" rating and set a $201.00 target price on shares of Alphabet in a report on Wednesday, September 24th. JPMorgan Chase & Co. raised their target price on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Rosenblatt Securities upped their price target on Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $233.44.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on 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 of the company's stock, valued at $8,371,905.30. This represents a 35.65% 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, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 257,866 shares of company stock valued at $52,363,610. Insiders own 11.55% of the company's stock.

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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