Regal Partners Ltd boosted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 219.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 144,529 shares of the information services provider's stock after purchasing an additional 99,229 shares during the period. Alphabet comprises 2.7% of Regal Partners Ltd's holdings, making the stock its 13th largest position. Regal Partners Ltd's holdings in Alphabet were worth $26,510,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Octavia Wealth Advisors LLC boosted its stake in shares of Alphabet by 6.4% during the 2nd quarter. Octavia Wealth Advisors LLC now owns 21,992 shares of the information services provider's stock worth $4,034,000 after acquiring an additional 1,324 shares during the period. Next Level Private LLC increased its stake in shares of Alphabet by 0.3% during the second quarter. Next Level Private LLC now owns 27,181 shares of the information services provider's stock worth $4,986,000 after purchasing an additional 87 shares during the period. Midland Wealth Advisors LLC raised its position in shares of Alphabet by 7.7% in the second quarter. Midland Wealth Advisors LLC now owns 12,606 shares of the information services provider's stock valued at $2,312,000 after buying an additional 901 shares in the last quarter. Magnus Financial Group LLC grew its position in Alphabet by 3.6% in the second quarter. Magnus Financial Group LLC now owns 16,791 shares of the information services provider's stock valued at $3,080,000 after acquiring an additional 588 shares during the last quarter. Finally, LMG Wealth Partners LLC increased its stake in shares of Alphabet by 0.5% in the second quarter. LMG Wealth Partners LLC now owns 14,316 shares of the information services provider's stock valued at $2,626,000 after buying an additional 70 shares during the period. Institutional investors own 27.26% of the company's stock.
Alphabet Stock Down 4.1 %
GOOG stock traded down $6.47 on Friday, hitting $152.13. 24,853,059 shares of the company's stock were exchanged, compared to its average volume of 20,174,590. The stock has a market cap of $1.88 trillion, a P/E ratio of 23.83, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a 50 day moving average price of $173.13 and a two-hundred day moving average price of $165.54.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same period last year, the company earned $1.44 EPS. The company's quarterly revenue was up 13.6% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc. will post 7.63 EPS for the current fiscal year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet's dividend payout ratio (DPR) is presently 12.27%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on GOOG. Wolfe Research raised shares of Alphabet to a "strong-buy" rating in a research report on Tuesday, July 16th. Cantor Fitzgerald upgraded Alphabet to a "hold" rating in a research report on Thursday. Rosenblatt Securities lowered Alphabet from a "buy" rating to a "neutral" rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. Oppenheimer raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an "outperform" rating in a report on Wednesday, July 24th. Finally, TD Cowen upped their price target on Alphabet from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $182.86.
Get Our Latest Report on Alphabet
Insider Transactions at Alphabet
In related news, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the sale, the insider now directly owns 39,334 shares in the company, valued at $6,307,206.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider John Kent Walker sold 21,467 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the sale, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now owns 3,727 shares in the company, valued at $663,107.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 200,532 shares of company stock worth $34,055,874. Company insiders own 12.99% of the company's stock.
Alphabet Profile
(
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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