McAdam LLC Increases Stake in Alphabet Inc. $GOOG

Key Points

• McAdam LLC increased its stake in Alphabet Inc. by 15.3% in Q2, bringing its total holdings to 12,940 shares worth approximately $2.3 million.
• Insider trading activity saw John Kent Walker sell 23,820 shares, reducing his position by 35.65%, while total insider sales amounted to $52.4 million over the last quarter.
• Alphabet's stock performance has been positive, with a recent quarterly earnings report surpassing analysts' expectations, showcasing a revenue of $96.43 billion and an EPS of $2.31.

McAdam LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 15.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,940 shares of the information services provider's stock after buying an additional 1,720 shares during the quarter. McAdam LLC's holdings in Alphabet were worth $2,295,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC grew its stake in shares of Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares in the last quarter. Nuveen LLC acquired a new stake in Alphabet in the first quarter valued at $2,622,943,000. GAMMA Investing LLC lifted its holdings in Alphabet by 18,562.3% during the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after buying an additional 14,246,573 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the transaction, the director directly owned 5,716 shares in the company, valued at approximately $1,425,799.04. The trade was a 9.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock worth $52,405,304 over the last quarter. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

GOOG has been the topic of several research analyst reports. Oppenheimer reissued an "outperform" rating and set a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. UBS Group boosted their price objective on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. KeyCorp set a $265.00 target price on shares of Alphabet in a report on Wednesday, September 3rd. Finally, Scotiabank lifted their price target on shares of Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, July 22nd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $230.35.

Alphabet Stock Performance

Shares of GOOG opened at $246.57 on Friday. The company's 50 day simple moving average is $215.38 and its 200-day simple moving average is $183.72. The firm has a market cap of $2.98 trillion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

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 analysts' consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion during 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%. Alphabet's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

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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