Orleans Capital Management Corp LA Buys Shares of 2,054 Alphabet Inc. $GOOG

Orleans Capital Management Corp LA purchased a new position in Alphabet Inc. (NASDAQ:GOOG) in the second quarter, HoldingsChannel reports. The firm purchased 2,054 shares of the information services provider’s stock, valued at approximately $364,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BLI Banque de Luxembourg Investments acquired a new stake in Alphabet in the second quarter worth approximately $7,824,000. Stablepoint Partners LLC raised its stake in shares of Alphabet by 2.6% in the 2nd quarter. Stablepoint Partners LLC now owns 11,395 shares of the information services provider’s stock worth $2,021,000 after buying an additional 293 shares in the last quarter. Pursue Wealth Partners LLC lifted its holdings in shares of Alphabet by 36.4% in the second quarter. Pursue Wealth Partners LLC now owns 33,342 shares of the information services provider’s stock valued at $5,915,000 after buying an additional 8,905 shares during the period. Meridian Wealth Partners LLC boosted its stake in Alphabet by 19.0% during the second quarter. Meridian Wealth Partners LLC now owns 4,573 shares of the information services provider’s stock valued at $811,000 after buying an additional 729 shares in the last quarter. Finally, West Family Investments Inc. bought a new position in Alphabet during the second quarter valued at about $490,000. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOG. Mizuho set a $325.00 target price on shares of Alphabet in a report on Thursday, October 30th. Barclays lifted their price target on shares of Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Rosenblatt Securities set a $279.00 price target on Alphabet in a report on Thursday, October 30th. Loop Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. Finally, JPMorgan Chase & Co. boosted their target price on Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and an average target price of $304.62.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 227,850 shares of company stock worth $58,874,814. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $319.95 on Friday. 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’s fifty day moving average price is $269.82 and its 200 day moving average price is $219.97. The company has a market capitalization of $3.86 trillion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a one year low of $142.66 and a one year high of $328.67.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same period last year, the business posted $2.12 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

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.