Fairbanks Capital Management Inc. Has $4 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Fairbanks Capital Management Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,288 shares of the information services provider’s stock after selling 421 shares during the period. Alphabet comprises 2.8% of Fairbanks Capital Management Inc.’s investment portfolio, making the stock its 11th largest holding. Fairbanks Capital Management Inc.’s holdings in Alphabet were worth $4,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Mark Sheptoff Financial Planning LLC increased its position in Alphabet by 11.1% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after acquiring an additional 60 shares during the period. Strait & Sound Wealth Management LLC grew its stake in shares of Alphabet by 2.2% during the first quarter. Strait & Sound Wealth Management LLC now owns 2,898 shares of the information services provider’s stock worth $466,000 after buying an additional 61 shares during the last quarter. Woodward Diversified Capital LLC increased its holdings in shares of Alphabet by 0.7% during the first quarter. Woodward Diversified Capital LLC now owns 8,609 shares of the information services provider’s stock worth $1,311,000 after buying an additional 62 shares in the last quarter. Intergy Private Wealth LLC boosted its holdings in shares of Alphabet by 1.9% during the 1st quarter. Intergy Private Wealth LLC now owns 3,393 shares of the information services provider’s stock valued at $517,000 after acquiring an additional 63 shares in the last quarter. Finally, Smith Anglin Financial LLC grew its position in Alphabet by 2.0% during the 1st quarter. Smith Anglin Financial LLC now owns 3,223 shares of the information services provider’s stock worth $491,000 after acquiring an additional 64 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.4 %

GOOG stock traded up $0.73 during midday trading on Tuesday, hitting $171.86. The stock had a trading volume of 13,632,795 shares, compared to its average volume of 20,563,488. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average price of $180.27 and a two-hundred day moving average price of $162.43. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The firm has a market cap of $2.12 trillion, a P/E ratio of 26.36, a price-to-earnings-growth ratio of 1.25 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the prior year, the company earned $1.44 EPS. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, sell-side analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is currently 12.27%.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent research reports. TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus lifted their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $182.86.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders have sold 144,808 shares of company stock worth $25,685,868 in the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet 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.