Alphabet Inc. $GOOG Shares Purchased by Northside Capital Management LLC

Key Points

• Northside Capital Management LLC increased its stake in Alphabet Inc. by 118.6%, owning a total of 33,697 shares worth approximately $5.98 million at the end of Q2.
• Alphabet reported $2.31 EPS for the last quarter, surpassing estimates, with revenue of $96.43 billion, up 13.8% year-over-year.
• The company declared a quarterly dividend of $0.21 per share, reflecting a 0.3% dividend yield and a payout ratio of 8.95%.

Northside Capital Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 118.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 33,697 shares of the information services provider's stock after acquiring an additional 18,280 shares during the period. Northside Capital Management LLC's holdings in Alphabet were worth $5,978,000 at the end of the most recent reporting period.

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

Alphabet Trading Down 1.8%

Shares of NASDAQ GOOG opened at $247.83 on Thursday. The company has a market cap of $3.00 trillion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 1.70 and a beta of 1.01. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock's 50 day simple moving average is $214.14 and its 200 day simple moving average is $183.18.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business's revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $1.89 EPS. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Analyst Ratings Changes

A number of brokerages have weighed in on GOOG. Roth Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. KeyCorp set a $265.00 price objective on Alphabet in a research note on Wednesday, September 3rd. Scotiabank lifted their target price on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 22nd. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Finally, Cowen reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $230.35.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the sale, the chief executive officer owned 2,397,392 shares of the company's stock, valued at $598,149,304. The trade was a 1.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 258,088 shares of company stock worth $52,405,304. 12.99% of the stock is currently owned by insiders.

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.

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