Parkwood LLC Has $22.97 Million Stock Position in Alphabet Inc. $GOOG

Key Points

• Parkwood LLC increased its holdings in Alphabet Inc. by 39.3%, acquiring an additional 41,460 shares to reach a total of 146,994 shares, representing 2.1% of its portfolio.
• Alphabet's Q2 earnings surpassed expectations with $2.31 EPS and $96.43 billion in revenue, reflecting a year-over-year revenue increase of 13.8%.
• The company announced a quarterly dividend of $0.21 per share, with a payout scheduled for September 15th, marking an annualized yield of 0.4%.

Parkwood LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 39.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,994 shares of the information services provider's stock after buying an additional 41,460 shares during the period. Alphabet comprises 2.1% of Parkwood LLC's portfolio, making the stock its 13th largest holding. Parkwood LLC's holdings in Alphabet were worth $22,965,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Permanens Capital L.P. boosted its stake in Alphabet by 34.9% during the first quarter. Permanens Capital L.P. now owns 8,170 shares of the information services provider's stock worth $1,276,000 after buying an additional 2,114 shares in the last quarter. Plancorp LLC boosted its stake in Alphabet by 36.6% during the first quarter. Plancorp LLC now owns 15,391 shares of the information services provider's stock worth $2,405,000 after buying an additional 4,123 shares in the last quarter. Murchinson Ltd. boosted its stake in Alphabet by 400.0% during the first quarter. Murchinson Ltd. now owns 50,000 shares of the information services provider's stock worth $7,812,000 after buying an additional 40,000 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in Alphabet by 5.6% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 890,033 shares of the information services provider's stock worth $139,050,000 after buying an additional 47,266 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Alphabet by 6.3% during the first quarter. NewEdge Advisors LLC now owns 603,261 shares of the information services provider's stock worth $94,247,000 after buying an additional 35,502 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ GOOG traded up $2.51 during midday trading on Friday, reaching $235.17. 26,091,032 shares of the company traded hands, compared to its average volume of 21,956,284. The firm has a market cap of $2.84 trillion, a PE ratio of 25.04, a PEG ratio of 1.58 and a beta of 1.01. The stock's 50-day simple moving average is $196.65 and its 200-day simple moving average is $176.75. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $236.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.During the same period last year, the business earned $1.89 earnings per share. The business's revenue was up 13.8% on a year-over-year basis. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction dated 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 transaction, the director directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,710 shares of company stock valued at $49,208,380. 12.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of recent research reports. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. KeyCorp set a $265.00 price target on shares of Alphabet in a research note on Wednesday. Oppenheimer reiterated an "outperform" rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research note on Wednesday. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a report on Wednesday. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $227.56.

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.