Waterloo Capital L.P. Buys 2,384 Shares of Alphabet Inc. $GOOGL

Waterloo Capital L.P. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,971 shares of the information services provider’s stock after purchasing an additional 2,384 shares during the period. Waterloo Capital L.P.’s holdings in Alphabet were worth $4,224,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bridgeway Capital Management LLC lifted its position in shares of Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares during the period. Alaethes Wealth LLC raised its stake in Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after buying an additional 84 shares in the last quarter. Moment Partners LLC lifted its holdings in Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after buying an additional 504 shares during the period. Welch Group LLC lifted its holdings in Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after buying an additional 2,467 shares during the period. Finally, Elgethun Capital Management boosted its position in Alphabet by 4.8% during the 1st quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider’s stock valued at $1,312,000 after acquiring an additional 390 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the sale, the director directly owned 4,516 shares of the company’s stock, valued at $1,264,750.96. This represents a 11.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total transaction of $9,640,800.00. Following the completion of the sale, the chief executive officer owned 2,304,619 shares in the company, valued at $683,642,180.16. The trade was a 1.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 193,628 shares of company stock worth $50,942,622 in the last ninety days. Corporate insiders own 11.64% of the company’s stock.

Alphabet Trading Down 0.6%

Shares of Alphabet stock opened at $317.62 on Friday. The firm’s 50 day simple moving average is $274.65 and its two-hundred day simple moving average is $223.02. The firm has a market capitalization of $3.83 trillion, a price-to-earnings ratio of 31.32, a PEG ratio of 1.85 and a beta of 1.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $328.83. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. Analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. 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 8.28%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GOOGL shares. Melius Research boosted their price target on Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. New Street Research boosted their target price on shares of Alphabet from $275.00 to $295.00 in a report on Friday, October 24th. BNP Paribas Exane initiated coverage on shares of Alphabet in a report on Monday, November 24th. They issued an “outperform” rating and a $355.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, HSBC boosted their price objective on shares of Alphabet from $335.00 to $370.00 and gave the stock a “buy” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $312.06.

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.