Alphabet Inc. $GOOGL Stock Position Boosted by NWK Group Inc.

by · The Markets Daily

NWK Group Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 47.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 71,360 shares of the information services provider’s stock after purchasing an additional 22,891 shares during the period. Alphabet makes up 4.4% of NWK Group Inc.’s investment portfolio, making the stock its 7th largest holding. NWK Group Inc.’s holdings in Alphabet were worth $12,576,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of Alphabet during the first quarter worth $4,317,606,000. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after acquiring an additional 4,473,901 shares in the last quarter. Amundi increased its stake in shares of Alphabet by 11.8% during the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after acquiring an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. raised its holdings in Alphabet by 178.3% during the first quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after purchasing an additional 2,565,400 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GOOGL shares. Tigress Financial raised their target price on Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a report on Friday, September 5th. JMP Securities restated a “market outperform” rating and set a $290.00 target price on shares of Alphabet in a research report on Wednesday, October 22nd. Mizuho set a $325.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Royal Bank Of Canada reissued a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Finally, Melius Research boosted their target price on Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $304.10.

Check Out Our Latest Stock Report on GOOGL

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 221,796 shares of company stock valued at $53,983,001 over the last 90 days. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $286.71 on Thursday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $292.01. The business has a fifty day moving average of $255.49 and a 200-day moving average of $207.29. The stock has a market cap of $3.46 trillion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is 8.28%.

About Alphabet

(Free Report)

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.

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