Magnolia Capital Advisors LLC Buys 884 Shares of Alphabet Inc. (NASDAQ:GOOG)

Magnolia Capital Advisors LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,195 shares of the information services provider’s stock after purchasing an additional 884 shares during the period. Magnolia Capital Advisors LLC’s holdings in Alphabet were worth $2,053,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Copperwynd Financial LLC lifted its stake in Alphabet by 7.4% in the 2nd quarter. Copperwynd Financial LLC now owns 7,200 shares of the information services provider’s stock valued at $1,247,000 after acquiring an additional 499 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in shares of Alphabet by 11.4% in the second quarter. SkyView Investment Advisors LLC now owns 16,281 shares of the information services provider’s stock worth $2,986,000 after purchasing an additional 1,660 shares in the last quarter. Rockport Wealth LLC boosted its holdings in Alphabet by 134.0% during the second quarter. Rockport Wealth LLC now owns 4,365 shares of the information services provider’s stock worth $801,000 after purchasing an additional 2,500 shares during the last quarter. Empirical Capital Management LLC increased its stake in Alphabet by 244.8% in the 2nd quarter. Empirical Capital Management LLC now owns 100,000 shares of the information services provider’s stock valued at $18,342,000 after buying an additional 71,000 shares during the last quarter. Finally, Kathmere Capital Management LLC increased its stake in Alphabet by 19.4% in the 2nd quarter. Kathmere Capital Management LLC now owns 18,531 shares of the information services provider’s stock valued at $3,399,000 after buying an additional 3,010 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of several recent research reports. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. TD Cowen lifted their price target 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. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.29.

Alphabet Stock Performance

Shares of GOOG stock opened at $165.29 on Monday. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a 50-day simple moving average of $164.34 and a 200 day simple moving average of $168.16. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31.

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

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the transaction, the director now directly owns 27,824 shares in the company, valued at approximately $4,590,960. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The disclosure for this sale can be found here. Insiders sold 200,105 shares of company stock valued at $33,479,581 in the last quarter. Company insiders own 12.99% of the company’s stock.

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.