Acorn Creek Capital LLC Has $1.08 Million Holdings in Alphabet Inc. $GOOG

Acorn Creek Capital LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,066 shares of the information services provider’s stock after selling 167 shares during the quarter. Alphabet makes up 0.4% of Acorn Creek Capital LLC’s holdings, making the stock its 19th biggest position. Acorn Creek Capital LLC’s holdings in Alphabet were worth $1,076,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in GOOG. RDA Financial Network lifted its holdings in Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after purchasing an additional 554 shares during the last quarter. Tower View Wealth Management LLC lifted its holdings in Alphabet by 6.9% during the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after purchasing an additional 1,776 shares during the last quarter. Oldfather Financial Services LLC acquired a new stake in Alphabet during the 2nd quarter valued at $213,000. Truist Financial Corp lifted its holdings in Alphabet by 0.4% during the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock valued at $643,381,000 after purchasing an additional 15,065 shares during the last quarter. Finally, GC Wealth Management RIA LLC lifted its holdings in Alphabet by 115.7% during the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock valued at $38,031,000 after purchasing an additional 115,003 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 244,438 shares of company stock worth $53,216,085. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on GOOG. KeyCorp set a $265.00 price target on Alphabet in a report on Wednesday, September 3rd. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday, July 9th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.00.

Alphabet Stock Up 2.2%

Shares of NASDAQ GOOG opened at $251.71 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70. The stock has a market capitalization of $3.04 trillion, a P/E ratio of 26.81, a PEG ratio of 1.66 and a beta of 1.00. The stock’s fifty day moving average is $230.06 and its 200 day moving average is $191.42.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter last year, the business earned $1.89 earnings per share. Alphabet’s revenue was up 13.8% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is currently 8.95%.

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.