Beacon Capital Management LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Beacon Capital Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,403 shares of the information services provider’s stock after buying an additional 188 shares during the quarter. Alphabet comprises about 0.4% of Beacon Capital Management LLC’s holdings, making the stock its 18th largest position. Beacon Capital Management LLC’s holdings in Alphabet were worth $2,077,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management grew its holdings in shares of Alphabet by 55.4% during the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock worth $29,956,000 after buying an additional 76,410 shares during the last quarter. Nebula Research & Development LLC purchased a new position in shares of Alphabet during the fourth quarter worth about $787,000. New Hampshire Trust grew its holdings in shares of Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after buying an additional 1,132 shares during the last quarter. Matisse Capital grew its holdings in shares of Alphabet by 13.7% during the fourth quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock worth $2,344,000 after buying an additional 2,026 shares during the last quarter. Finally, Berkshire Money Management Inc. purchased a new position in shares of Alphabet during the first quarter worth about $359,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on GOOGL shares. Wedbush reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Monday, July 22nd. Wolfe Research started coverage on Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price on the stock. Mizuho boosted their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Royal Bank of Canada boosted their target price on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, Loop Capital reiterated a “hold” rating and set a $170.00 target price on shares of Alphabet in a research report on Wednesday, July 3rd. Six analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $203.74.

Alphabet Price Performance

GOOGL stock opened at $163.38 on Monday. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The firm has a market cap of $2.01 trillion, a P/E ratio of 25.06, a PEG ratio of 1.22 and a beta of 1.05. The stock’s 50 day moving average price is $173.44 and its 200 day moving average price is $163.90. 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 (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share 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 company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the prior year, the company posted $1.44 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the transaction, the chief executive officer now owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the completion of the sale, the chief executive officer now directly owns 2,235,511 shares in the company, valued at approximately $394,746,532.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The disclosure for this sale can be found here. Insiders have sold a total of 155,883 shares of company stock valued at $26,705,320 in the last quarter. 11.55% of the stock is currently owned by company 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.