Uptick Partners LLC Raises Holdings in Alphabet Inc. $GOOG

Key Points

• Uptick Partners LLC increased its holdings in Alphabet Inc. by 38.6% during the second quarter, acquiring an additional 1,595 shares to reach a total of 5,729 shares valued at approximately $1,016,000.
• Alphabet reported a quarterly earnings per share (EPS) of $2.31, surpassing the consensus estimate of $2.12, and recorded revenue of $96.43 billion, up 13.8% year-over-year.
• The company also announced a quarterly dividend of $0.21 per share, reflecting an annualized dividend yield of 0.3% and a payout ratio of 8.95%.

Uptick Partners LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 38.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,729 shares of the information services provider's stock after purchasing an additional 1,595 shares during the period. Uptick Partners LLC's holdings in Alphabet were worth $1,016,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. RDA Financial Network lifted its holdings in shares of Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock valued at $1,968,000 after acquiring an additional 554 shares during the last quarter. Tower View Wealth Management LLC lifted its holdings in shares of Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider's stock valued at $4,904,000 after acquiring an additional 1,776 shares during the last quarter. Oldfather Financial Services LLC bought a new position in shares of Alphabet in the 2nd quarter valued at about $213,000. Truist Financial Corp lifted its holdings in shares of Alphabet by 0.4% in the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider's stock valued at $643,381,000 after acquiring an additional 15,065 shares during the last quarter. Finally, GC Wealth Management RIA LLC lifted its holdings in shares of Alphabet by 115.7% in the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider's stock valued at $38,031,000 after acquiring an additional 115,003 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Up 0.8%

Shares of NASDAQ GOOG opened at $253.79 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market cap of $3.07 trillion, a P/E ratio of 27.03, a PEG ratio of 1.71 and a beta of 1.00. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.58. The firm has a 50-day simple moving average of $232.18 and a two-hundred day simple moving average of $192.97.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $93.67 billion. During the same quarter last year, the firm earned $1.89 earnings per share. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared 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. This represents a $0.84 annualized dividend 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%.

Insider Activity

In other news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company's stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 953 shares of Alphabet stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer directly owned 17,294 shares of the company's stock, valued at $4,171,312.80. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 243,372 shares of company stock valued at $55,110,740. Insiders own 12.99% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on GOOG. Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Mizuho raised shares of Alphabet to a "strong-buy" rating in a report on Monday, September 29th. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Pivotal Research raised their price objective on shares of Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Finally, Raymond James Financial reissued an "outperform" rating and issued a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $244.68.

About Alphabet

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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