Narwhal Capital Management Acquires New Stake in Alphabet Inc. $GOOGL

Key Points

• Narwhal Capital Management acquired a new stake in Alphabet Inc., purchasing 1,169 shares valued at approximately $206,000 during the second quarter.
• Alphabet reported strong quarterly earnings with an EPS of $2.31, exceeding analysts' expectations, and a revenue of $96.43 billion for the quarter.
• The company recently announced a quarterly dividend of $0.21 per share, with a dividend yield of 0.3%, indicating a low payout ratio of 8.95%.

Narwhal Capital Management acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,169 shares of the information services provider's stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Brighton Jones LLC increased its holdings in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Alphabet by 10.5% in the 1st quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider's stock worth $16,062,000 after purchasing an additional 9,900 shares in the last quarter. Insigneo Advisory Services LLC increased its holdings in shares of Alphabet by 7.6% in the 1st quarter. Insigneo Advisory Services LLC now owns 109,493 shares of the information services provider's stock worth $16,932,000 after purchasing an additional 7,733 shares in the last quarter. Finally, Rakuten Securities Inc. increased its holdings in shares of Alphabet by 22.5% in the 1st quarter. Rakuten Securities Inc. now owns 13,400 shares of the information services provider's stock worth $2,072,000 after purchasing an additional 2,458 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $253.30 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business's 50-day simple moving average is $231.55 and its two-hundred day simple moving average is $191.61. The stock has a market cap of $3.06 trillion, a PE ratio of 26.98, a P/E/G ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.96.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares of the company's stock, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 246,150 shares of company stock valued at $55,805,379. 11.64% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. HSBC assumed coverage on Alphabet in a report on Tuesday, October 7th. They issued a "buy" rating and a $285.00 target price for the company. Cantor Fitzgerald raised their price target on Alphabet from $201.00 to $265.00 and gave the stock a "neutral" rating in a research note on Monday, October 13th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Loop Capital restated a "hold" rating and issued a $190.00 price target (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Finally, Needham & Company LLC raised their price target on Alphabet from $220.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $252.24.

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.

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