Fulcrum Capital LLC Has $1.64 Million Stock Position in Alphabet Inc. $GOOG

Fulcrum Capital LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 91.8% in the second quarter, HoldingsChannel reports. The firm owned 9,259 shares of the information services provider’s stock after selling 103,772 shares during the period. Fulcrum Capital LLC’s holdings in Alphabet were worth $1,642,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC increased its position in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares in the last quarter. Nuveen LLC acquired a new stake in Alphabet in the 1st quarter valued at about $2,622,943,000. Vanguard Group Inc. increased its position in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. increased its position in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Alphabet in the 1st quarter valued at about $369,713,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 0.6%

Alphabet stock opened at $246.19 on Wednesday. The company’s 50 day simple moving average is $228.96 and its 200 day simple moving average is $191.00. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. The firm has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 26.22, a PEG ratio of 1.65 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter last year, the firm earned $1.89 EPS. Alphabet’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 243,838 shares of company stock worth $53,070,333 over the last quarter. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GOOG shares. Barclays restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. UBS Group set a $255.00 price objective on shares of Alphabet and gave the company a “neutral” rating in a research report on Thursday, October 9th. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. 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 research report on Monday, September 22nd. Finally, Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.00.

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.