Louisbourg Investments Inc. Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Louisbourg Investments Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 8.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,578 shares of the information services provider’s stock after purchasing an additional 4,710 shares during the quarter. Alphabet makes up about 2.3% of Louisbourg Investments Inc.’s holdings, making the stock its 5th largest position. Louisbourg Investments Inc.’s holdings in Alphabet were worth $9,152,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Signature Wealth Management Group lifted its holdings in shares of Alphabet by 4.0% in the first quarter. Signature Wealth Management Group now owns 11,391 shares of the information services provider’s stock valued at $1,780,000 after purchasing an additional 440 shares in the last quarter. Community Trust & Investment Co. lifted its holdings in shares of Alphabet by 0.7% in the first quarter. Community Trust & Investment Co. now owns 405,288 shares of the information services provider’s stock valued at $63,318,000 after purchasing an additional 2,828 shares in the last quarter. Stockman Wealth Management Inc. increased its position in shares of Alphabet by 6.2% during the first quarter. Stockman Wealth Management Inc. now owns 8,460 shares of the information services provider’s stock valued at $1,322,000 after acquiring an additional 495 shares during the last quarter. FNY Investment Advisers LLC lifted its holdings in Alphabet by 332.0% during the first quarter. FNY Investment Advisers LLC now owns 4,562 shares of the information services provider’s stock worth $712,000 after acquiring an additional 3,506 shares during the period. Finally, Sentry LLC boosted its position in Alphabet by 8.5% in the first quarter. Sentry LLC now owns 9,472 shares of the information services provider’s stock worth $1,480,000 after purchasing an additional 742 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $177.94 on Tuesday. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The business has a fifty day moving average price of $165.19 and a 200-day moving average price of $176.43. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market capitalization of $2.16 trillion, a P/E ratio of 22.10, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company earned $1.89 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,570 shares of company stock valued at $32,003,532. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of recent analyst reports. Needham & Company LLC downgraded Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. The Goldman Sachs Group restated a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. Oppenheimer upped their price objective on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Cantor Fitzgerald restated a “neutral” rating and issued a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Finally, Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $204.88.

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.