Waterloo Capital L.P. Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

Waterloo Capital L.P. raised its position in Alphabet Inc. (NASDAQ:GOOG) by 11.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,761 shares of the information services provider’s stock after purchasing an additional 2,317 shares during the quarter. Waterloo Capital L.P.’s holdings in Alphabet were worth $4,175,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. Gilbert & Cook Inc. increased its holdings in Alphabet by 15.5% in the 4th quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock valued at $4,109,000 after purchasing an additional 3,924 shares in the last quarter. Concentrum Wealth Management boosted its position in shares of Alphabet by 25.0% in the fourth quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock worth $2,317,000 after buying an additional 3,283 shares during the period. Aveo Capital Partners LLC grew its stake in shares of Alphabet by 2.4% in the fourth quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock valued at $937,000 after buying an additional 154 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Alphabet during the 4th quarter valued at about $620,000. Finally, GW&K Investment Management LLC lifted its position in Alphabet by 13.3% during the 4th quarter. GW&K Investment Management LLC now owns 3,434 shares of the information services provider’s stock worth $484,000 after acquiring an additional 402 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOG opened at $160.81 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The company has a 50-day moving average of $167.19 and a 200-day moving average of $166.60. The company has a market capitalization of $1.99 trillion, a P/E ratio of 24.66, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $84.22 billion. During the same period in the previous year, the company earned $1.44 earnings per share. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. Equities analysts expect that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders have sold 202,667 shares of company stock worth $33,964,256 over the last ninety days. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. TD Cowen lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Oppenheimer upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $182.86.

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.