Northside Capital Management LLC Buys 126,806 Shares of Alphabet Inc. $GOOGL

Key Points

• Northside Capital Management LLC significantly increased its stake in Alphabet Inc. by 603.3% in the second quarter, acquiring an additional 126,806 shares, bringing its total holdings to 147,826 shares.
• Alphabet's quarterly earnings report showed a EPS of $2.31, surpassing expectations, with revenues reaching $96.43 billion, which was above analyst estimates.
• The company announced a quarterly dividend of $0.21 per share on September 15th, translating to an annualized yield of 0.3% with a low dividend payout ratio of 8.95%.

Northside Capital Management LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 603.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 147,826 shares of the information services provider's stock after purchasing an additional 126,806 shares during the period. Alphabet makes up approximately 2.0% of Northside Capital Management LLC's portfolio, making the stock its 11th biggest holding. Northside Capital Management LLC's holdings in Alphabet were worth $26,051,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. IMS Capital Management purchased a new stake in Alphabet in the second quarter worth approximately $2,327,000. James J. Burns & Company LLC boosted its stake in Alphabet by 3.7% in the second quarter. James J. Burns & Company LLC now owns 22,455 shares of the information services provider's stock worth $3,957,000 after buying an additional 804 shares in the last quarter. Financial Management Professionals Inc. boosted its stake in Alphabet by 18.9% in the second quarter. Financial Management Professionals Inc. now owns 5,187 shares of the information services provider's stock worth $914,000 after buying an additional 825 shares in the last quarter. Ballentine Partners LLC boosted its stake in Alphabet by 8.1% in the second quarter. Ballentine Partners LLC now owns 156,879 shares of the information services provider's stock worth $27,647,000 after buying an additional 11,714 shares in the last quarter. Finally, Oak Wealth Advisors LLC purchased a new stake in Alphabet in the second quarter worth approximately $201,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $246.54 on Friday. The stock has a market cap of $2.98 trillion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 1.66 and a beta of 1.01. The firm's fifty day simple moving average is $215.93 and its 200 day simple moving average is $183.14. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

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

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Roth Capital upped their target price on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Citigroup lifted their price objective on Alphabet from $225.00 to $280.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Robert W. Baird lifted their price objective on Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a report on Monday, September 22nd. Finally, Melius Research increased their price objective on Alphabet from $220.00 to $255.00 in a research note on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average target price of $233.44.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of Alphabet 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 transaction, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 258,088 shares of company stock worth $52,405,304. Corporate insiders own 11.64% of the company's stock.

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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