Alphabet Inc. $GOOGL Stock Holdings Lifted by NWK Group Inc.

NWK Group Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 47.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,360 shares of the information services provider’s stock after purchasing an additional 22,891 shares during the period. Alphabet makes up about 4.4% of NWK Group Inc.’s holdings, making the stock its 7th largest holding. NWK Group Inc.’s holdings in Alphabet were worth $12,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. Leeward Financial Partners LLC boosted its stake in Alphabet by 9.8% during the second quarter. Leeward Financial Partners LLC now owns 44,733 shares of the information services provider’s stock worth $7,883,000 after buying an additional 3,982 shares during the last quarter. Haven Private LLC increased its stake in shares of Alphabet by 67.6% in the 2nd quarter. Haven Private LLC now owns 6,086 shares of the information services provider’s stock worth $1,073,000 after acquiring an additional 2,454 shares during the last quarter. Bridgewealth Advisory Group LLC purchased a new position in shares of Alphabet during the 2nd quarter worth $325,000. Fisher Funds Management LTD raised its holdings in shares of Alphabet by 3.1% during the 2nd quarter. Fisher Funds Management LTD now owns 983,825 shares of the information services provider’s stock worth $173,379,000 after acquiring an additional 29,202 shares during the period. Finally, Linscomb Wealth Inc. boosted its position in shares of Alphabet by 3.0% during the 2nd quarter. Linscomb Wealth Inc. now owns 55,496 shares of the information services provider’s stock valued at $9,780,000 after acquiring an additional 1,629 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on GOOGL. Sanford C. Bernstein raised their price objective on shares of Alphabet from $260.00 to $305.00 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. Royal Bank Of Canada restated a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. CIBC lifted their price target on shares of Alphabet to $315.00 in a research report on Monday, October 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Finally, Robert W. Baird raised their target price on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $304.10.

Alphabet Trading Down 1.6%

NASDAQ GOOGL opened at $286.71 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $3.46 trillion, a price-to-earnings ratio of 28.28, a PEG ratio of 1.86 and a beta of 1.05. The firm has a 50 day simple moving average of $255.49 and a 200-day simple moving average of $207.29. Alphabet Inc. has a one year low of $140.53 and a one year high of $292.01.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the transaction, the director owned 18,004 shares of the company’s stock, valued at $5,253,567.20. This represents a 0.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 221,796 shares of company stock valued at $53,983,001. 11.55% of the stock is owned by corporate insiders.

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.