Alphabet Inc. $GOOG Shares Acquired by Childress Capital Advisors LLC

Childress Capital Advisors LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 70.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,050 shares of the information services provider’s stock after acquiring an additional 7,846 shares during the period. Alphabet accounts for about 0.9% of Childress Capital Advisors LLC’s investment portfolio, making the stock its 27th largest position. Childress Capital Advisors LLC’s holdings in Alphabet were worth $3,379,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lowery Thomas LLC purchased a new stake in shares of Alphabet in the second quarter valued at about $203,000. Consolidated Portfolio Review Corp raised its position in shares of Alphabet by 14.8% during the 2nd quarter. Consolidated Portfolio Review Corp now owns 14,633 shares of the information services provider’s stock worth $2,596,000 after purchasing an additional 1,885 shares during the last quarter. Victrix Investment Advisors lifted its stake in Alphabet by 9.6% in the 2nd quarter. Victrix Investment Advisors now owns 6,229 shares of the information services provider’s stock valued at $1,105,000 after buying an additional 546 shares in the last quarter. Brueske Advisory Services LLC lifted its stake in Alphabet by 2.7% in the 2nd quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider’s stock valued at $389,000 after buying an additional 58 shares in the last quarter. Finally, PBMares Wealth Management LLC grew its holdings in Alphabet by 1.5% during the 2nd quarter. PBMares Wealth Management LLC now owns 5,779 shares of the information services provider’s stock valued at $1,025,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $246.43 on Friday. The company has a market cap of $2.98 trillion, a P/E ratio of 26.24, a P/E/G ratio of 1.66 and a beta of 1.00. The firm’s 50 day moving average is $220.84 and its two-hundred day moving average is $186.43. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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 the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.89 EPS. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders 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 was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the sale, the chief executive officer owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock valued at $59,135,475 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on GOOG shares. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Robert W. Baird lifted their price target on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. 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 report on Thursday, July 24th. Finally, Scotiabank raised their target price on shares of Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 22nd. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $235.33.

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.