Next Capital Management LLC Has $944,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Next Capital Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 10.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,180 shares of the information services provider’s stock after selling 599 shares during the quarter. Next Capital Management LLC’s holdings in Alphabet were worth $944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. New Hampshire Trust increased its position in Alphabet by 2.7% in the 2nd 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 period. Berkshire Money Management Inc. bought a new position in shares of Alphabet during the 1st quarter worth about $359,000. Schneider Downs Wealth Management Advisors LP increased its stake in Alphabet by 58.4% during the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after acquiring an additional 2,351 shares during the period. Sanders Morris Harris LLC acquired a new position in shares of Alphabet in the first quarter valued at $842,000. Finally, SWP Financial LLC bought a new position in Alphabet in the fourth quarter worth $200,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GOOGL shares. Morgan Stanley dropped their price objective on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Wolfe Research assumed coverage on shares of Alphabet in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target for the company. Royal Bank of Canada lifted their price objective on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. BMO Capital Markets dropped their target price on Alphabet from $222.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Evercore ISI decreased their price target on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.95.

Alphabet Stock Performance

Shares of Alphabet stock 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 debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 24.86, a PEG ratio of 1.21 and a beta of 1.04. The firm has a fifty day moving average of $161.62 and a two-hundred day moving average of $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, beating 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 business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the prior year, the company posted $1.44 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 7.63 EPS for the current 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 $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 dividend yield of 0.49%. Alphabet’s dividend payout ratio is 12.27%.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other 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 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,092 shares of company stock valued at $35,644,136 in the last 90 days. 11.55% of the stock is owned by insiders.

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.