Childress Capital Advisors LLC Has $4.13 Million Holdings in Alphabet Inc. $GOOGL

Childress Capital Advisors LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 23,457 shares of the information services provider’s stock after acquiring an additional 1,472 shares during the quarter. Alphabet makes up about 1.0% of Childress Capital Advisors LLC’s investment portfolio, making the stock its 21st largest holding. Childress Capital Advisors LLC’s holdings in Alphabet were worth $4,134,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after acquiring an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after acquiring an additional 4,473,901 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after acquiring an additional 593,345 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after acquiring an additional 727,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after acquiring an additional 104,859 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In related news, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 953 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the sale, the chief accounting officer directly owned 17,294 shares of the company’s stock, valued at $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 276,738 shares of company stock worth $59,135,475. 11.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. Jefferies Financial Group increased their price objective on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Tigress Financial increased their price objective on Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a report on Friday, September 5th. Loop Capital restated a “hold” rating and set a $190.00 target price (up previously from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. BMO Capital Markets increased their target price on Alphabet from $208.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Finally, Needham & Company LLC increased their target price on Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $242.98.

Alphabet Price Performance

Alphabet stock opened at $245.76 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $2.97 trillion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.00. The business has a 50 day simple moving average of $223.41 and a 200 day simple moving average of $187.13.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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

About Alphabet

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.