Painted Porch Advisors LLC Buys 1,025 Shares of Alphabet Inc. $GOOGL

Key Points

• Painted Porch Advisors LLC increased its stake in Alphabet Inc. by 23.2% in Q2, now holding 5,438 shares valued at $958,000.
• Alphabet reported a net margin of 31.12% and earnings of $2.31 per share, exceeding expectations of $2.15.
• The company's quarterly dividend of $0.21 reflects an annual yield of 0.3%, demonstrating a low dividend payout ratio of 8.95%.

Painted Porch Advisors LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 23.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,438 shares of the information services provider's stock after buying an additional 1,025 shares during the quarter. Alphabet makes up 0.4% of Painted Porch Advisors LLC's holdings, making the stock its 24th biggest position. Painted Porch Advisors LLC's holdings in Alphabet were worth $958,000 as of its most recent filing with the Securities and Exchange Commission.

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

Alphabet Stock Down 1.8%

Shares of NASDAQ GOOGL opened at $247.14 on Thursday. The stock has a market capitalization of $2.99 trillion, a P/E ratio of 26.32, a PEG ratio of 1.70 and a beta of 1.01. The stock's fifty day moving average is $213.46 and its 200 day moving average is $181.91. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. 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 dividend payout ratio (DPR) is 8.95%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. BNP Paribas Exane reiterated a "neutral" rating and issued a $172.00 price objective on shares of Alphabet in a report on Friday, June 27th. Loop Capital reaffirmed a "hold" rating and set a $190.00 target price (up previously from $165.00) on shares of Alphabet in a report on Tuesday, August 5th. Bank of America increased their price target on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Westpark Capital boosted their price objective on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, DA Davidson upped their target price on Alphabet from $180.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday, September 2nd. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $231.31.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,778 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares of the company's stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 258,088 shares of company stock valued at $52,405,304 in the last three months. Company insiders own 11.64% of the company's stock.

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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