Waycross Partners LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 23.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 252,904 shares of the information services provider's stock after acquiring an additional 48,277 shares during the quarter. Alphabet makes up approximately 4.4% of Waycross Partners LLC's holdings, making the stock its 5th biggest position. Waycross Partners LLC's holdings in Alphabet were worth $39,109,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Guardian Wealth Management Inc. raised its stake in 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 purchasing an additional 119 shares during the period. IMA Advisory Services Inc. bought a new stake in Alphabet during the 1st quarter valued at approximately $28,000. von Borstel & Associates Inc. bought a new stake in Alphabet during the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC raised its stake in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new stake in Alphabet during the 1st quarter valued at approximately $39,000. 40.03% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Susquehanna raised their price target on Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Royal Bank Of Canada raised their price target on Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Oppenheimer raised their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Finally, KeyCorp raised their price target on Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $211.53.
View Our Latest Stock Analysis on GOOGL
Alphabet Stock Up 0.5%
Shares of GOOGL stock traded up $0.98 during mid-day trading on Thursday, hitting $202.94. The stock had a trading volume of 25,203,857 shares, compared to its average volume of 38,137,568. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The firm has a market capitalization of $2.45 trillion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 1.36 and a beta of 1.01. The firm's 50-day moving average is $182.95 and its two-hundred day moving average is $173.22. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping 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 business had revenue of $96,428,000 billion during the quarter, compared to analysts' expectations of $93.60 billion. On average, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.
Insider Transactions at Alphabet
In other news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the transaction, the director directly owned 6,316 shares of the company's stock, valued at approximately $1,287,137.64. The trade was a 8.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on 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. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 274,819 shares of company stock valued at $49,796,547 over the last 90 days. 11.64% of the stock is owned by corporate insiders.
Alphabet Company Profile
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Free Report)
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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