Baugh & Associates LLC Invests $2.22 Million in Alphabet Inc. $GOOG

Baugh & Associates LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,306 shares of the information services provider’s stock, valued at approximately $2,218,000.

Several other institutional investors and hedge funds also recently modified their holdings of GOOG. Independence Bank of Kentucky raised its holdings in Alphabet by 10.2% during the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock worth $2,329,000 after acquiring an additional 1,376 shares in the last quarter. RDA Financial Network raised its holdings in Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after acquiring an additional 554 shares in the last quarter. Fermata Advisors LLC raised its holdings in Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock worth $1,527,000 after acquiring an additional 259 shares in the last quarter. jvl associates llc raised its holdings in Alphabet by 3.5% during the first quarter. jvl associates llc now owns 10,055 shares of the information services provider’s stock worth $1,571,000 after acquiring an additional 343 shares in the last quarter. Finally, Members Trust Co raised its holdings in Alphabet by 84.7% during the first quarter. Members Trust Co now owns 4,999 shares of the information services provider’s stock worth $781,000 after acquiring an additional 2,292 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This represents a 1.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 258,088 shares of company stock worth $52,405,304. 12.99% of the stock is owned by insiders.

Analysts Set New Price Targets

GOOG has been the topic of several analyst reports. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Raymond James Financial reiterated an “outperform” rating and set a $210.00 target price (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday, September 3rd. Pivotal Research upped their price objective on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Finally, Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $227.56.

Alphabet Trading Up 1.2%

Shares of GOOG stock opened at $255.24 on Monday. The stock’s fifty day moving average price is $210.08 and its two-hundred day moving average price is $181.70. The company has a market cap of $3.09 trillion, a PE ratio of 27.18, a P/E/G ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. 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 (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 EPS. Equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. 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 dividend payout ratio (DPR) is currently 8.95%.

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.