Louisbourg Investments Inc. Has $8.95 Million Stock Holdings in Alphabet Inc. $GOOG

Louisbourg Investments Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 13.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 50,428 shares of the information services provider’s stock after selling 8,150 shares during the period. Alphabet accounts for about 1.9% of Louisbourg Investments Inc.’s portfolio, making the stock its 9th largest position. Louisbourg Investments Inc.’s holdings in Alphabet were worth $8,945,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GOOG. MorganRosel Wealth Management LLC purchased a new position in Alphabet during the 1st quarter valued at about $26,000. IFS Advisors LLC grew its position in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after buying an additional 120 shares during the last quarter. Robbins Farley grew its position in shares of Alphabet by 60.0% in the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after buying an additional 60 shares during the last quarter. WestEnd Advisors LLC grew its position in shares of Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in shares of Alphabet in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $246.19 on Wednesday. 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 company has a 50 day simple moving average of $228.96 and a two-hundred day simple moving average of $191.00. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The stock has a market cap of $2.98 trillion, a price-to-earnings ratio of 26.22, a PEG ratio of 1.65 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the previous year, the business posted $1.89 EPS. The business’s revenue was up 13.8% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GOOG shares. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, October 8th. TD Cowen lifted their price objective on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $241.00.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at approximately $584,699,785.79. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, 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. The disclosure for this sale can be found here. Over the last three months, insiders have sold 243,838 shares of company stock valued at $53,070,333. 12.99% of the stock is owned by company insiders.

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.