Louisbourg Investments Inc. Has $9.15 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Louisbourg Investments Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 8.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,578 shares of the information services provider’s stock after acquiring an additional 4,710 shares during the quarter. Alphabet accounts for about 2.3% of Louisbourg Investments Inc.’s investment portfolio, making the stock its 5th largest holding. Louisbourg Investments Inc.’s holdings in Alphabet were worth $9,152,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Principia Wealth Advisory LLC increased its holdings in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after acquiring an additional 85 shares in the last quarter. LSV Asset Management bought a new position in shares of Alphabet during the fourth quarter worth about $27,000. WealthTrak Capital Management LLC bought a new position in shares of Alphabet during the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet during the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet during the fourth quarter worth about $43,000. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Tigress Financial reiterated a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Susquehanna reiterated a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Rosenblatt Securities upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Finally, Oppenheimer increased their price objective on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $204.88.

Alphabet Trading Up 1.2%

NASDAQ GOOG opened at $177.94 on Tuesday. The company has a market cap of $2.16 trillion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The business’s fifty day moving average is $165.19 and its 200 day moving average is $176.43. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s payout ratio is currently 9.36%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 195,570 shares of company stock valued at $32,003,532 in the last ninety days. 12.99% of the stock is owned by company insiders.

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.