Regatta Capital Group LLC Purchases 1,195 Shares of Alphabet Inc. $GOOGL

Key Points

• Regatta Capital Group LLC increased its stake in Alphabet Inc. by 1.7%, now holding 70,617 shares worth approximately $12.4 million, making it the firm's 14th largest holding.
• Insider transactions included significant sales by John Kent Walker and Kavitark Ram Shriram, with a combined sale of over 42,000 shares, indicating possible shifts in company confidence.
• Alphabet recently reported strong quarterly earnings of $2.31 per share, beating estimates, along with a quarterly dividend payment of $0.21 per share, reflecting its financial health.

Regatta Capital Group LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,617 shares of the information services provider's stock after purchasing an additional 1,195 shares during the quarter. Alphabet comprises about 2.1% of Regatta Capital Group LLC's portfolio, making the stock its 14th biggest holding. Regatta Capital Group LLC's holdings in Alphabet were worth $12,445,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. lifted its position in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after acquiring an additional 119 shares during the period. von Borstel & Associates Inc. bought a new stake in shares of Alphabet during the 1st quarter worth $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the 1st quarter worth $28,000. NBZ Investment Advisors LLC increased its holdings in 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 purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the 1st quarter worth about $39,000. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 257,866 shares of company stock worth $52,363,610 in the last ninety days. Corporate insiders own 11.55% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GOOGL. Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Wall Street Zen lowered Alphabet from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Morgan Stanley increased their price target on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Guggenheim increased their price target on Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, JMP Securities raised their target price on Alphabet from $250.00 to $290.00 and gave the company a "market outperform" rating in a report on Friday, September 19th. Three analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $233.44.

Alphabet Price Performance

NASDAQ:GOOGL opened at $246.54 on Monday. The firm has a market capitalization of $2.98 trillion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 1.66 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The stock has a fifty day moving average of $215.93 and a 200 day moving average of $183.28. 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:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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

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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