Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Breakwater Capital Group

Breakwater Capital Group boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,385 shares of the information services provider’s stock after acquiring an additional 285 shares during the period. Breakwater Capital Group’s holdings in Alphabet were worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. First Business Financial Services Inc. boosted its stake in shares of Alphabet by 2.0% during the third quarter. First Business Financial Services Inc. now owns 41,614 shares of the information services provider’s stock valued at $5,446,000 after acquiring an additional 822 shares during the last quarter. Investidor Profissional Gestao de Recursos Ltda. lifted its holdings in Alphabet by 86.4% in the 3rd quarter. Investidor Profissional Gestao de Recursos Ltda. now owns 148,541 shares of the information services provider’s stock valued at $19,438,000 after purchasing an additional 68,834 shares in the last quarter. Hodges Capital Management Inc. acquired a new stake in shares of Alphabet during the 3rd quarter worth about $2,028,000. Kidder Stephen W boosted its stake in shares of Alphabet by 0.3% during the 3rd quarter. Kidder Stephen W now owns 102,865 shares of the information services provider’s stock worth $13,461,000 after purchasing an additional 305 shares during the last quarter. Finally, Gallagher Fiduciary Advisors LLC grew its holdings in shares of Alphabet by 34.3% during the third quarter. Gallagher Fiduciary Advisors LLC now owns 2,833 shares of the information services provider’s stock worth $371,000 after buying an additional 724 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of analyst reports. Royal Bank of Canada raised their target price on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Tigress Financial lifted their price objective on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Friday, May 24th. Evercore ISI upped their target price on Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, June 11th. Canaccord Genuity Group raised their price target on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Jefferies Financial Group upped their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Six analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $193.66.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Insiders sold a total of 123,788 shares of company stock valued at $21,143,403 over the last three months. 11.55% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $185.82 on Thursday. The firm has a market cap of $2.30 trillion, a price-to-earnings ratio of 28.50, a PEG ratio of 1.37 and a beta of 1.05. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $173.92 and its two-hundred day moving average is $155.17. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $186.09.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the prior year, the company posted $1.17 earnings per share. Analysts forecast that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.