Campbell Capital Management Inc. Decreases Holdings in Alphabet Inc. $GOOG

Campbell Capital Management Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.5% in the 2nd quarter, Holdings Channel reports. The firm owned 163,551 shares of the information services provider’s stock after selling 4,123 shares during the period. Alphabet makes up 11.3% of Campbell Capital Management Inc.’s investment portfolio, making the stock its 2nd largest holding. Campbell Capital Management Inc.’s holdings in Alphabet were worth $29,012,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Old North State Trust LLC grew its stake in Alphabet by 13.6% in the second quarter. Old North State Trust LLC now owns 4,590 shares of the information services provider’s stock worth $814,000 after purchasing an additional 550 shares in the last quarter. Tyler Stone Wealth Management increased its holdings in shares of Alphabet by 16.2% in the second quarter. Tyler Stone Wealth Management now owns 67,838 shares of the information services provider’s stock valued at $12,034,000 after purchasing an additional 9,477 shares during the period. Tactive Advisors LLC acquired a new stake in Alphabet during the 2nd quarter worth about $1,718,000. Geneos Wealth Management Inc. increased its holdings in shares of Alphabet by 14.2% during the 2nd quarter. Geneos Wealth Management Inc. now owns 87,857 shares of the information services provider’s stock valued at $15,585,000 after purchasing an additional 10,955 shares in the last quarter. Finally, V2 Financial group LLC raised its stake in shares of Alphabet by 3.0% during the 2nd quarter. V2 Financial group LLC now owns 4,474 shares of the information services provider’s stock worth $794,000 after buying an additional 129 shares during the period. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Bank of America raised their price target on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Morgan Stanley boosted their price objective on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a report on Monday, November 24th. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Finally, HSBC restated a “buy” rating and set a $335.00 target price on shares of Alphabet in a report on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $313.04.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $310.52 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $3.75 trillion, a price-to-earnings ratio of 30.62, a PEG ratio of 1.80 and a beta of 1.07. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $328.67. The stock’s fifty day simple moving average is $283.75 and its 200 day simple moving average is $230.33.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal 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 paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 954 shares of Alphabet stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $317.00, for a total value of $302,418.00. Following the sale, the chief accounting officer owned 11,740 shares of the company’s stock, valued at approximately $3,721,580. This trade represents a 7.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 102 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $317.66, for a total value of $32,401.32. Following the sale, the director owned 18,104 shares in the company, valued at $5,750,916.64. The trade was a 0.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 228,906 shares of company stock worth $62,127,158 over the last quarter. 12.99% of the stock is currently owned by insiders.

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.