Cannon Advisors Inc. Buys 450 Shares of Alphabet Inc. $GOOGL

Cannon Advisors Inc. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 25,201 shares of the information services provider’s stock after acquiring an additional 450 shares during the period. Alphabet makes up approximately 3.6% of Cannon Advisors Inc.’s portfolio, making the stock its 7th biggest position. Cannon Advisors Inc.’s holdings in Alphabet were worth $4,441,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GOOGL. Gimbal Financial boosted its stake in shares of 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 purchasing an additional 53 shares in the last quarter. Missouri Trust & Investment Co raised its holdings in 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 buying an additional 55 shares during the last quarter. Silver Coast Investments LLC raised its holdings in Alphabet by 1.3% in the 2nd quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock valued at $761,000 after buying an additional 55 shares during the last quarter. AM Investment Strategies LLC boosted 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 buying an additional 57 shares during the period. Finally, Bfsg LLC grew its holdings in Alphabet by 0.6% during the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after acquiring an additional 59 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 0.0%

Shares of GOOGL stock opened at $320.02 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $328.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a 50 day simple moving average of $269.25 and a two-hundred day simple moving average of $218.76. The company has a market cap of $3.86 trillion, a P/E ratio of 31.56, a PEG ratio of 1.86 and a beta of 1.05.

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

Alphabet Dividend Announcement

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

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. The trade was a 1.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the transaction, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 225,072 shares of company stock worth $58,074,027. Company insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BMO Capital Markets set a $294.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a report on Thursday, October 9th. DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, November 20th. Evercore ISI lifted their target price on Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. DA Davidson reissued a “neutral” rating and issued a $300.00 price target on shares of Alphabet in a research note on Tuesday. Finally, Robert W. Baird raised their price objective on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $307.84.

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.