Alphabet Inc. $GOOGL Shares Purchased by Canal Capital Management LLC

Canal Capital Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,922 shares of the information services provider’s stock after acquiring an additional 3,845 shares during the quarter. Alphabet makes up 1.6% of Canal Capital Management LLC’s portfolio, making the stock its 16th biggest position. Canal Capital Management LLC’s holdings in Alphabet were worth $9,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bridgeway Capital Management LLC raised its position in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after acquiring an additional 13,371 shares in the last quarter. Alaethes Wealth LLC boosted its holdings in Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares during the period. Moment Partners LLC increased its stake in Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after purchasing an additional 504 shares during the last quarter. Welch Group LLC raised its holdings in shares of Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after purchasing an additional 2,467 shares during the period. Finally, Brooktree Capital Management bought a new position in shares of Alphabet in the 2nd quarter worth about $352,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 0.3%

Shares of Alphabet stock opened at $308.22 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $328.83. The business’s fifty day moving average price is $284.30 and its two-hundred day moving average price is $230.93. The company has a market capitalization of $3.72 trillion, a P/E ratio of 30.40, a PEG ratio of 1.79 and a beta of 1.07.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. As a group, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the sale, the director owned 4,516 shares of the company’s stock, valued at $1,264,750.96. The trade was a 11.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 102 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $317.66, for a total value of $32,401.32. Following the transaction, the director directly owned 18,104 shares of the company’s stock, valued at approximately $5,750,916.64. The trade was a 0.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 222,750 shares of company stock valued at $60,496,098. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GOOGL shares. HSBC boosted their price objective on shares of Alphabet from $335.00 to $370.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Citic Securities upped their target price on Alphabet from $230.00 to $310.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Citizens Jmp boosted their price objective on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Finally, Citigroup restated a “buy” rating and set a $343.00 price objective (up from $280.00) on shares of Alphabet in a research note on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $314.22.

Alphabet Company 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.