Waycross Partners LLC Has $46.99 Million Position in Alphabet Inc. $GOOGL

Key Points

• Waycross Partners LLC has increased its holdings in Alphabet Inc. by 5.4%, now owning approximately $46.99 million worth of shares, making it the 5th largest position in their portfolio.
• Several institutional investors, including Vanguard Group and UBS, have also increased their stakes in Alphabet, reflecting growing institutional confidence in the company.
• Alphabet recently announced a quarterly dividend of $0.21 per share, with an annualized yield of 0.3%, highlighting the company's solid cash flow during the quarter.

Waycross Partners LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,664 shares of the information services provider's stock after acquiring an additional 13,760 shares during the quarter. Alphabet makes up approximately 4.4% of Waycross Partners LLC's portfolio, making the stock its 5th largest position. Waycross Partners LLC's holdings in Alphabet were worth $46,994,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares in the last quarter. Invesco Ltd. grew its position in Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock valued at $6,749,806,000 after buying an additional 593,345 shares during the period. Deutsche Bank AG grew its position in Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock valued at $6,153,481,000 after buying an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Alphabet by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock valued at $5,962,389,000 after buying an additional 104,859 shares during the period. Institutional investors own 40.03% of the company's stock.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 258,088 shares of company stock valued at $52,405,304. Company insiders own 11.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Melius Research increased their price target on shares of Alphabet from $220.00 to $255.00 in a research report on Thursday. BMO Capital Markets increased their price target on shares of Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. JMP Securities increased their price target on shares of Alphabet from $250.00 to $290.00 and gave the company a "market outperform" rating in a research report on Friday, September 19th. Citizens Jmp increased their price target on shares of Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a research report on Friday, September 19th. Finally, Morgan Stanley increased their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Three analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $233.44.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $246.54 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.98 trillion, a PE ratio of 26.26, a P/E/G ratio of 1.66 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The company has a 50-day moving average price of $215.93 and a two-hundred day moving average price of $183.03.

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 analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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