Next Capital Management LLC Acquires 3,945 Shares of Alphabet Inc. $GOOGL

Next Capital Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 130.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,972 shares of the information services provider’s stock after buying an additional 3,945 shares during the period. Next Capital Management LLC’s holdings in Alphabet were worth $1,229,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Fullcircle Wealth LLC boosted its position in Alphabet by 3.1% during the second quarter. Fullcircle Wealth LLC now owns 13,411 shares of the information services provider’s stock valued at $2,616,000 after purchasing an additional 406 shares during the last quarter. Roffman Miller Associates Inc. PA raised its stake in shares of Alphabet by 1.7% during the 2nd quarter. Roffman Miller Associates Inc. PA now owns 421,931 shares of the information services provider’s stock worth $74,357,000 after purchasing an additional 7,060 shares in the last quarter. Levin Capital Strategies L.P. raised its stake in shares of Alphabet by 33.5% during the 2nd quarter. Levin Capital Strategies L.P. now owns 175,009 shares of the information services provider’s stock worth $30,842,000 after purchasing an additional 43,868 shares in the last quarter. Connable Office Inc. boosted its holdings in shares of Alphabet by 3.7% in the 2nd quarter. Connable Office Inc. now owns 22,631 shares of the information services provider’s stock valued at $3,988,000 after buying an additional 810 shares during the last quarter. Finally, Bridgewater Advisors Inc. grew its stake in shares of Alphabet by 2.4% in the second quarter. Bridgewater Advisors Inc. now owns 72,156 shares of the information services provider’s stock valued at $14,125,000 after buying an additional 1,713 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 221,796 shares of company stock worth $53,983,001 in the last 90 days. Company insiders own 11.64% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on GOOGL shares. Wedbush reaffirmed an “outperform” rating and set a $320.00 price target (up from $245.00) on shares of Alphabet in a research report on Thursday, October 30th. Oppenheimer lifted their price objective on shares of Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, BMO Capital Markets set a $294.00 price target on Alphabet and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Four analysts have rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $304.10.

Alphabet Stock Down 0.8%

Alphabet stock opened at $276.41 on Friday. The company’s 50-day moving average price is $257.24 and its two-hundred day moving average price is $208.93. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.34 trillion, a P/E ratio of 27.26, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $292.01.

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

Alphabet Announces Dividend

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

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.