Sullivan Wood Capital Management LLC Acquires Shares of 11,422 Alphabet Inc. $GOOG

Key Points

• Sullivan Wood Capital Management LLC has acquired 11,422 shares of Alphabet Inc., valued at approximately $2,026,000, making it the firm's 6th largest investment.
• Alphabet reported a Q2 earnings per share of $2.31, surpassing estimates of $2.12, with revenue of $96.43 billion, a 13.8% increase year-over-year.
• The company declared a quarterly dividend of $0.21, resulting in an annual yield of 0.3%, with a dividend payout ratio currently at 8.95%.

Sullivan Wood Capital Management LLC bought a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,422 shares of the information services provider's stock, valued at approximately $2,026,000. Alphabet makes up approximately 4.2% of Sullivan Wood Capital Management LLC's investment portfolio, making the stock its 6th largest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Principia Wealth Advisory LLC grew its holdings in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet in the first quarter valued at approximately $26,000. Robbins Farley grew its stake in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock valued at $28,000 after acquiring an additional 60 shares in the last quarter. Goodman Advisory Group LLC bought a new stake in Alphabet during the 1st quarter worth approximately $32,000. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet in the 1st quarter worth approximately $32,000. Institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

Shares of GOOG opened at $246.45 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.98 trillion, a PE ratio of 26.25, a P/E/G ratio of 1.66 and a beta of 1.00. The firm has a fifty day simple moving average of $221.89 and a two-hundred day simple moving average of $187.31. 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 posted 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same period in the prior year, the business posted $1.89 earnings per share. The company's revenue was up 13.8% on a year-over-year basis. On average, equities analysts anticipate 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. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GOOG. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. Lake Street Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. KeyCorp set a $265.00 price target on Alphabet in a report on Wednesday, September 3rd. Barclays reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Roth Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $235.33.

Insider Activity

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 276,738 shares of company stock valued at $59,135,475. 12.99% of the stock is currently owned by insiders.

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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