Lavaca Capital LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Lavaca Capital LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,547 shares of the information services provider’s stock after buying an additional 87 shares during the period. Lavaca Capital LLC’s holdings in Alphabet were worth $828,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOOGL. Merriman Wealth Management LLC lifted its holdings in Alphabet by 18.0% in the 2nd quarter. Merriman Wealth Management LLC now owns 7,055 shares of the information services provider’s stock worth $1,285,000 after buying an additional 1,077 shares during the period. Avalon Global Asset Management LLC raised its holdings in shares of Alphabet by 0.5% during the second quarter. Avalon Global Asset Management LLC now owns 42,200 shares of the information services provider’s stock valued at $7,687,000 after acquiring an additional 200 shares in the last quarter. Connecticut Wealth Management LLC lifted its stake in Alphabet by 0.7% in the second quarter. Connecticut Wealth Management LLC now owns 34,877 shares of the information services provider’s stock worth $6,353,000 after acquiring an additional 234 shares during the period. Octahedron Capital Management L.P. boosted its holdings in Alphabet by 6.7% in the second quarter. Octahedron Capital Management L.P. now owns 78,300 shares of the information services provider’s stock valued at $14,262,000 after acquiring an additional 4,950 shares in the last quarter. Finally, Tcwp LLC increased its position in Alphabet by 1.7% during the 2nd quarter. Tcwp LLC now owns 4,191 shares of the information services provider’s stock valued at $763,000 after purchasing an additional 69 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.7 %

Alphabet stock opened at $167.06 on Friday. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The company has a market cap of $2.06 trillion, a P/E ratio of 25.62, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $162.06 and a two-hundred day simple moving average of $167.14.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the prior year, the company earned $1.44 earnings per share. Analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GOOGL. Tigress Financial raised their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Loop Capital restated a “hold” rating and issued a $170.00 price objective on shares of Alphabet in a report on Wednesday, July 3rd. Mizuho upped their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Bank of America raised their target price on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $201.14.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now owns 30,824 shares in the company, valued at $5,728,640.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now owns 30,824 shares in the company, valued at $5,728,640.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 217,592 shares of company stock worth $35,922,911. Corporate insiders own 11.55% of the company’s stock.

Alphabet Company 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.