Alphabet Inc. $GOOGL is Buckhead Capital Management LLC’s 6th Largest Position

Buckhead Capital Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 18.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,571 shares of the information services provider’s stock after selling 7,260 shares during the period. Alphabet comprises approximately 2.2% of Buckhead Capital Management LLC’s portfolio, making the stock its 6th biggest holding. Buckhead Capital Management LLC’s holdings in Alphabet were worth $5,740,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GOOGL. Gimbal Financial boosted its position in Alphabet by 1.9% during the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after buying an additional 53 shares during the period. Missouri Trust & Investment Co lifted its stake in shares of Alphabet by 0.3% in the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after acquiring an additional 55 shares during the last quarter. Silver Coast Investments LLC boosted its holdings in Alphabet by 1.3% during the 2nd quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock valued at $761,000 after acquiring an additional 55 shares during the period. AM Investment Strategies LLC grew its position in Alphabet by 0.9% during the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after acquiring an additional 57 shares during the last quarter. Finally, Bfsg LLC increased its stake in Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after purchasing an additional 59 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GOOGL shares. Evercore ISI increased their price objective on Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Wedbush reiterated an “outperform” rating and set a $320.00 price target (up from $245.00) on shares of Alphabet in a report on Thursday, October 30th. Tigress Financial increased their price target on shares of Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research report on Friday, September 5th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Canaccord Genuity Group boosted their price objective on shares of Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $304.10.

Alphabet Stock Up 0.4%

Shares of NASDAQ GOOGL opened at $291.31 on Wednesday. The firm has a fifty day simple moving average of $254.37 and a two-hundred day simple moving average of $206.73. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $291.92. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.52 trillion, a PE ratio of 28.73, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.28%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 221,796 shares of company stock worth $53,983,001 in the last quarter. 11.64% of the stock is owned by company insiders.

About Alphabet

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.