Spectrum Strategic Capital Management LLC Raises Position in Alphabet Inc. $GOOGL

Key Points

• Spectrum Strategic Capital Management LLC raised its stake in Alphabet Inc. by 38.8% during the second quarter, owning 19,908 shares valued at approximately $3.5 million.
• Alphabet recently announced a quarterly dividend of $0.21 per share, translating to an annualized dividend of $0.84, which yields 0.3%.
• The company's stock opened at $245.35 with a market capitalization of $2.97 trillion and financial metrics indicating a debt-to-equity ratio of 0.07 and a P/E ratio of 26.13.

Spectrum Strategic Capital Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 38.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,908 shares of the information services provider's stock after purchasing an additional 5,568 shares during the period. Alphabet accounts for 1.8% of Spectrum Strategic Capital Management LLC's investment portfolio, making the stock its 11th biggest holding. Spectrum Strategic Capital Management LLC's holdings in Alphabet were worth $3,508,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Missouri Trust & Investment Co boosted its holdings in Alphabet by 0.3% in the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider's stock worth $2,981,000 after buying an additional 55 shares during the period. AM Investment Strategies LLC boosted its holdings in Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider's stock worth $1,141,000 after buying an additional 57 shares during the period. Bfsg LLC boosted its holdings in Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider's stock worth $1,838,000 after buying an additional 59 shares during the period. Enzi Wealth boosted its holdings in Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after buying an additional 62 shares during the period. Finally, Park Capital Management LLC WI boosted its holdings in Alphabet by 1.1% in the 2nd quarter. Park Capital Management LLC WI now owns 6,005 shares of the information services provider's stock worth $1,058,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $245.35 on Monday. 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. The company has a market capitalization of $2.97 trillion, a P/E ratio of 26.13, a P/E/G ratio of 1.66 and a beta of 1.00. The company has a fifty day moving average of $221.25 and a 200-day moving average of $186.12.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders 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 dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOGL. Bank of America raised their price objective on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Moffett Nathanson raised their price target on shares of Alphabet from $230.00 to $295.00 and gave the company a "buy" rating in a report on Thursday, September 25th. Mizuho set a $295.00 price target on shares of Alphabet and gave the company an "outperform" rating in a report on Monday, September 29th. Barclays raised their price target on shares of Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Finally, Royal Bank Of Canada raised their price target on shares of Alphabet from $220.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday, September 3rd. Four equities research 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $240.76.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the business's stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company's stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares of the company's stock, valued at $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock valued at $59,135,475 over the last three months. 11.55% of the stock is currently owned by company insiders.

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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