Alphabet Inc. $GOOGL Holdings Raised by Nearwater Capital Markets Ltd

Key Points

• Nearwater Capital Markets Ltd increased its holdings in Alphabet Inc. by 128.1%, purchasing an additional 360,000 shares, bringing its total to 641,000 shares valued at approximately $99.1 million.
• Alphabet recently reported earnings per share (EPS) of $2.31, exceeding analysts' expectations of $2.15, with revenues of $96.43 billion for the quarter.
• The company announced a quarterly dividend of $0.21 per share, reflecting an annualized dividend of $0.84 and a yield of 0.4%.

Nearwater Capital Markets Ltd increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 128.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 641,000 shares of the information services provider's stock after acquiring an additional 360,000 shares during the period. Alphabet makes up approximately 2.8% of Nearwater Capital Markets Ltd's portfolio, making the stock its 8th biggest holding. Nearwater Capital Markets Ltd's holdings in Alphabet were worth $99,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. boosted its holdings in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares in the last quarter. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet during the 1st quarter valued at approximately $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after acquiring an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet in the 1st quarter valued at approximately $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Ratings Changes

GOOGL has been the topic of a number of research reports. Susquehanna increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Needham & Company LLC increased their price target on shares of Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Barclays raised their price objective on shares of Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Piper Sandler upped their target price on Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Rosenblatt Securities raised their price target on Alphabet from $191.00 to $224.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $221.44.

Alphabet Trading Down 0.4%

Shares of GOOGL traded down $0.96 during trading hours on Monday, hitting $234.04. The stock had a trading volume of 32,427,667 shares, compared to its average volume of 36,789,105. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $238.13. The firm has a market cap of $2.83 trillion, a P/E ratio of 24.92, a P/E/G 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. The company's fifty day simple moving average is $195.79 and its 200 day simple moving average is $175.35.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal 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 issued a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,000 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the sale, the director owned 6,916 shares of the company's stock, valued at $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The transaction 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 transaction of $4,637,754.00. Following the transaction, the insider 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 three months, insiders sold 254,710 shares of company stock valued at $49,208,380. 11.55% of the stock is currently owned by corporate 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.