Lavaca Capital LLC raises shares in Alphabet Inc. (NASDAQ:GOOGL)

Lavaca Capital LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) 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 purchasing 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 boosted its holdings in Alphabet by 18.0% in the second 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 boosted 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 during the last quarter. Connecticut Wealth Management LLC increased its stake in shares of 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 LP boosted its holdings in Alphabet by 6.7% in the second quarter. Octahedron Capital Management LP now owns 78,300 shares of the information services provider’s stock valued at $14,262,000 after purchasing an additional 4,950 shares during the last quarter. Finally, Tcwp LLC grew its position in Alphabet by 1.7% in the 2nd quarter. Tcwp LLC now owns 4,191 shares of the information services provider’s stock worth $763,000 after buying an additional 69 of shares in the respective period. Institutional investors own 40.03% of the company’s shares.

Alphabet trading up 0.7%

Shares of Alphabet opened at $167.06 on Friday. Alphabet Inc. it 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 company has a 50 day simple moving average of $162.06 and a two hundred day simple moving average of $167.14.

Alphabet (NASDAQ:GOOGL – Get Your Free Report ) last announced its earnings results 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. 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. In the same period last year, the company earned $1.44 per share. Analysts predict that Alphabet Inc. will record 7.63 EPS for the current year.

Alphabetical announcement of dividends

The company also recently announced 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 was Monday, September 9. This represents a dividend of $0.80 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 upped 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 boosted 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 upped 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 restated a “neutral” rating and issued a $181.00 target price 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. The stock has an average rating of “Moderate Buy” and a consensus price target of $201.14, according to MarketBeat.com.

Check out our latest analysis on GOOGL

Insider activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’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 ownership of the shares. The sale was disclosed in a filing with the SEC, which is available via this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’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 ownership of the shares. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the business’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 transaction represented a decrease of 0.00 % in the stock holding. 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 shares.

Alphabet Company Profile

(Free report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It works through Google services, Google Cloud and other betting segments. The Google Services segment offers products and services including Ads, Android, Chrome, Devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

See Also

Want to see what other hedge funds own GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Alphabet Inc. (NASDAQ:GOOGL – Free Report).

Get news and reviews for Alphabet Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alphabet and related companies with MarketBeat.com’s FREE daily email newsletter.