Excalibur Management Corp Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Excalibur Management Corp increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,827 shares of the information services provider’s stock after buying an additional 411 shares during the quarter. Excalibur Management Corp’s holdings in Alphabet were worth $519,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Twelve Points Wealth Management LLC raised its position in shares of Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after purchasing an additional 55 shares during the period. PCG Wealth Advisors LLC grew its stake in Alphabet by 3.1% in the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after buying an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV raised its holdings in Alphabet by 1.6% in the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after acquiring an additional 57 shares during the period. Advisors Management Group Inc. ADV raised its holdings in Alphabet by 2.0% in the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after acquiring an additional 58 shares during the period. Finally, Mark Sheptoff Financial Planning LLC lifted its position in Alphabet by 11.1% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after acquiring an additional 60 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 0.8 %

GOOG opened at $160.28 on Wednesday. The company has a market capitalization of $1.98 trillion, a P/E ratio of 24.58, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm’s fifty day moving average price is $167.82 and its two-hundred day moving average price is $166.64. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same period in the previous year, the business earned $1.44 EPS. The firm’s revenue was up 13.6% on a year-over-year basis. On average, analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet’s payout ratio is presently 12.27%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total value of $4,201,650.00. Following the sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. Insiders sold 202,667 shares of company stock worth $34,341,581 in the last 90 days. 12.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GOOG shares. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research note on Friday, June 28th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Oppenheimer increased their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, TD Cowen upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $182.86.

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.