Strathmore Capital Advisors Inc. Invests $1.32 Million in Alphabet Inc. $GOOG

Key Points

• Strathmore Capital Advisors Inc. made a new investment of approximately $1.32 million in Alphabet Inc., acquiring 7,413 shares, which now constitute about 0.6% of its portfolio.
• Alphabet's recent quarterly earnings topped analyst expectations with an EPS of $2.31 and revenue of $96.43 billion, marking a 13.8% increase year-over-year.
• Wall Street has a consensus rating of "Moderate Buy" for Alphabet, with a price target of $227.56, indicating positive growth expectations for the company going forward.

Strathmore Capital Advisors Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 7,413 shares of the information services provider's stock, valued at approximately $1,317,000. Alphabet accounts for about 0.6% of Strathmore Capital Advisors Inc.'s holdings, making the stock its 24th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in GOOG. Atticus Wealth Management LLC lifted its position in Alphabet by 22.9% during the second quarter. Atticus Wealth Management LLC now owns 5,131 shares of the information services provider's stock valued at $910,000 after purchasing an additional 955 shares during the period. Bath Savings Trust Co lifted its position in Alphabet by 0.6% during the second quarter. Bath Savings Trust Co now owns 13,613 shares of the information services provider's stock valued at $2,415,000 after purchasing an additional 75 shares during the period. Capital Advisory Group Advisory Services LLC lifted its position in Alphabet by 14.6% during the second quarter. Capital Advisory Group Advisory Services LLC now owns 3,771 shares of the information services provider's stock valued at $669,000 after purchasing an additional 480 shares during the period. RFG Holdings Inc. lifted its position in Alphabet by 31.9% during the second quarter. RFG Holdings Inc. now owns 8,059 shares of the information services provider's stock valued at $1,430,000 after purchasing an additional 1,949 shares during the period. Finally, SK Wealth Management LLC lifted its position in Alphabet by 4.4% during the second quarter. SK Wealth Management LLC now owns 1,436 shares of the information services provider's stock valued at $255,000 after purchasing an additional 61 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOG stock traded up $2.91 on Friday, reaching $255.24. 41,503,403 shares of the company were exchanged, compared to its average volume of 24,489,492. The company has a market cap of $3.09 trillion, a price-to-earnings ratio of 27.18, a P/E/G ratio of 1.70 and a beta of 1.01. The business has a 50-day moving average price of $210.08 and a 200 day moving average price of $181.61. 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 Inc. has a 1 year low of $142.66 and a 1 year high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The business 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%. The company's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GOOG shares. Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Cowen reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $227.56.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director owned 5,716 shares of the company's stock, valued at $1,425,799.04. The trade was a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the sale, the director directly owned 240,400 shares of the company's stock, valued at $44,656,704. This represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 258,088 shares of company stock valued at $52,405,304. Corporate insiders own 12.99% 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.