Lokken Investment Group LLC Has $220,000 Stake in Alphabet Inc. $GOOG

Lokken Investment Group LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,239 shares of the information services provider’s stock after selling 77 shares during the quarter. Lokken Investment Group LLC’s holdings in Alphabet were worth $220,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its position in Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after buying an additional 6,410 shares during the period. Revisor Wealth Management LLC grew its position in Alphabet by 107.9% during the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock valued at $572,000 after buying an additional 1,899 shares during the period. GAMMA Investing LLC grew its position in Alphabet by 19.5% during the first quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider’s stock valued at $14,323,000 after buying an additional 14,931 shares during the period. Krilogy Financial LLC increased its stake in shares of Alphabet by 3.2% during the 1st quarter. Krilogy Financial LLC now owns 47,104 shares of the information services provider’s stock worth $7,359,000 after purchasing an additional 1,439 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. increased its stake in shares of Alphabet by 3.3% during the 1st quarter. Ipswich Investment Management Co. Inc. now owns 15,752 shares of the information services provider’s stock worth $2,461,000 after purchasing an additional 505 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares of the company’s stock, valued at $466,000,536.96. This represents a 1.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 276,738 shares of company stock valued at $59,135,475. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOG opened at $237.49 on Friday. The stock has a market capitalization of $2.87 trillion, a PE ratio of 25.29, a P/E/G ratio of 1.60 and a beta of 1.00. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The company’s 50 day simple moving average is $226.97 and its two-hundred day simple moving average is $189.81. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data 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. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company earned $1.89 earnings per share. Analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s payout ratio is presently 8.95%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Mizuho upgraded shares of Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. TD Cowen boosted their target price on Alphabet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Finally, Citizens Jmp raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.00.

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.