Waterloo Capital L.P. Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Waterloo Capital L.P. raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 11.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,761 shares of the information services provider’s stock after purchasing an additional 2,317 shares during the quarter. Waterloo Capital L.P.’s holdings in Alphabet were worth $4,175,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GOOG. Richardson Financial Services Inc. purchased a new position in Alphabet during the fourth quarter worth about $34,000. 1620 Investment Advisors Inc. acquired a new position in Alphabet during the 2nd quarter worth approximately $37,000. Slocum Gordon & Co LLP purchased a new position in shares of Alphabet during the 2nd quarter worth approximately $44,000. Hoese & Co LLP lifted its holdings in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after buying an additional 100 shares during the period. Finally, Iron Horse Wealth Management LLC purchased a new position in shares of Alphabet in the 2nd quarter valued at about $48,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Finally, Oppenheimer raised their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $182.86.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred 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 owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. In the last three months, insiders sold 202,667 shares of company stock worth $33,964,256. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 0.3 %

GOOG opened at $160.81 on Thursday. The firm has a market cap of $1.99 trillion, a P/E ratio of 24.66, a PEG ratio of 1.13 and a beta of 1.04. The business’s fifty day simple moving average is $167.19 and its 200 day simple moving average is $166.60. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the company earned $1.44 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.50%. Alphabet’s payout ratio is currently 12.27%.

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.