Breakwater Capital Group Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Breakwater Capital Group increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,595 shares of the information services provider’s stock after purchasing an additional 135 shares during the period. Breakwater Capital Group’s holdings in Alphabet were worth $1,627,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LMR Partners LLP purchased a new stake in Alphabet during the third quarter valued at about $32,000. Denver PWM LLC purchased a new stake in Alphabet during the second quarter valued at about $41,000. Quarry LP purchased a new stake in Alphabet during the second quarter valued at about $53,000. Teachers Insurance & Annuity Association of America purchased a new stake in Alphabet during the third quarter valued at about $66,000. Finally, Mendota Financial Group LLC grew its position in Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after acquiring an additional 64 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GOOGL. Royal Bank of Canada boosted their price target on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Evercore ISI boosted their price objective on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wolfe Research boosted their price objective on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Truist Financial boosted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $208.15.

Alphabet Stock Up 3.1 %

NASDAQ:GOOGL opened at $195.55 on Thursday. The firm has a market capitalization of $2.39 trillion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. The stock has a 50 day moving average of $183.45 and a 200-day moving average of $173.04. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the company earned $1.55 earnings per share. Analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 3.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,387 shares of company stock valued at $24,368,654. 11.55% of the stock is currently owned by insiders.

Alphabet 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.