New Republic Capital LLC Increases Position in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• New Republic Capital LLC has increased its stake in Alphabet Inc. by 21.6%, owning a total of 11,558 shares worth approximately $1.8 million as of the latest quarter.
• Alphabet recently reported earnings of $2.31 per share, exceeding estimates, with a revenue of $96.43 billion for the quarter, reflecting a year-over-year growth of 13.8%.
• The company has declared a quarterly dividend of $0.21 per share, which will be paid on September 15th, resulting in an annual yield of 0.43%.

New Republic Capital LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 21.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,558 shares of the information services provider's stock after purchasing an additional 2,056 shares during the quarter. Alphabet comprises about 0.8% of New Republic Capital LLC's portfolio, making the stock its 22nd biggest holding. New Republic Capital LLC's holdings in Alphabet were worth $1,806,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Concentrum Wealth Management increased its position in Alphabet by 0.3% during the 4th quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock valued at $3,300,000 after buying an additional 57 shares in the last quarter. JDM Financial Group LLC increased its position in Alphabet by 10.6% during the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock valued at $113,000 after buying an additional 57 shares in the last quarter. Kidder Stephen W increased its position in Alphabet by 1.6% during the 4th quarter. Kidder Stephen W now owns 3,608 shares of the information services provider's stock valued at $687,000 after buying an additional 58 shares in the last quarter. Objectivity Squared LLC increased its position in Alphabet by 0.4% during the 1st quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock valued at $2,605,000 after buying an additional 62 shares in the last quarter. Finally, Tranquility Partners LLC increased its holdings in shares of Alphabet by 0.4% in the 1st quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider's stock worth $2,263,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Price Performance

Shares of GOOG stock traded down $4.17 during trading hours on Thursday, hitting $193.27. The stock had a trading volume of 17,346,458 shares, compared to its average volume of 24,275,443. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock's 50-day moving average price is $178.54 and its two-hundred day moving average price is $174.69. The stock has a market capitalization of $2.35 trillion, a price-to-earnings ratio of 20.61, a PEG ratio of 1.30 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its 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. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The business's revenue was up 13.8% compared to the same quarter last year. Equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.43%. Alphabet's payout ratio is currently 8.95%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 400 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the sale, the director directly owned 6,013 shares of the company's stock, valued at $1,094,245.74. The trade was a 6.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the sale, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,298 shares of company stock valued at $43,505,967 over the last ninety days. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GOOG shares. JPMorgan Chase & Co. lifted their target price on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $215.19.

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.