Newport Capital Group LLC Invests $1.11 Million in Alphabet Inc. (NASDAQ:GOOGL)

Newport Capital Group LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the second quarter, HoldingsChannel reports. The institutional investor bought 6,099 shares of the information services provider’s stock, valued at approximately $1,111,000. Alphabet makes up approximately 0.9% of Newport Capital Group LLC’s portfolio, making the stock its 23rd largest position.

A number of other large investors have also recently bought and sold shares of the stock. Christopher J. Hasenberg Inc boosted its position in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Tributary Capital Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at $30,000. Kings Path Partners LLC purchased a new stake in shares of Alphabet in the second quarter valued at $36,000. Denver PWM LLC purchased a new position in Alphabet during the second quarter worth about $41,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Argus increased their price objective on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. TD Securities lifted their price target on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. JPMorgan Chase & Co. upped their price objective on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Jefferies Financial Group lifted their target price on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Finally, Pivotal Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 1st. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $200.95.

Alphabet Trading Up 0.1 %

NASDAQ:GOOGL opened at $162.08 on Friday. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. 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 company has a market cap of $2.00 trillion, a PE ratio of 24.86, a P/E/G ratio of 1.21 and a beta of 1.04. The business’s 50 day moving average is $161.62 and its two-hundred day moving average is $167.57.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the company posted $1.44 earnings per share. On average, analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,092 shares of company stock worth $35,644,136 over the last ninety days. Company insiders own 11.55% of the company’s stock.

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.