Alphabet Inc. $GOOG Shares Acquired by Woodline Partners LP

Key Points

• Woodline Partners LP increased its holdings in Alphabet Inc. by 39.7% during the 1st quarter, acquiring an additional 113,584 shares for a total valuation of $62,398,000.
• Alphabet recently reported a quarterly earnings beat with $2.31 EPS, surpassing the consensus estimate of $2.12, alongside a revenue increase of 13.8% year-over-year.
• The company declared a quarterly dividend of $0.21 per share with a yield of 0.4%, to be paid on September 15th to shareholders recorded by September 8th.

Woodline Partners LP lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 39.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 399,396 shares of the information services provider's stock after buying an additional 113,584 shares during the period. Woodline Partners LP's holdings in Alphabet were worth $62,398,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Principia Wealth Advisory LLC boosted its holdings in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in Alphabet during the first quarter worth about $26,000. Goodman Advisory Group LLC purchased a new position in Alphabet during the first quarter worth about $32,000. Greykasell Wealth Strategies Inc. acquired a new stake in Alphabet in the 1st quarter worth about $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in Alphabet in the 1st quarter worth about $34,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 0.4%

NASDAQ GOOG opened at $234.16 on Tuesday. The firm has a market capitalization of $2.83 trillion, a price-to-earnings ratio of 24.94, a PEG ratio of 1.58 and a beta of 1.01. 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 one year low of $142.66 and a one year high of $238.40. The company's 50 day moving average price is $197.78 and its 200 day moving average price is $177.12.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. Alphabet's revenue for the quarter was up 13.8% on a year-over-year basis. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Insider Buying and Selling

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,710 shares of company stock valued at $49,208,380. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. The Goldman Sachs Group reiterated a "buy" rating and issued a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Finally, Barclays reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $227.56.

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.

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