Rydar Equities Inc. Purchases New Stake in Alphabet Inc. $GOOG

Rydar Equities Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,220 shares of the information services provider’s stock, valued at approximately $394,000.

A number of other hedge funds have also recently made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC lifted its position in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares in the last quarter. Norges Bank purchased a new stake in shares of Alphabet in the second quarter worth approximately $4,298,572,000. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 1.3% in the second quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock valued at $73,927,821,000 after purchasing an additional 5,182,111 shares in the last quarter. Laurel Wealth Advisors LLC boosted its position in shares of Alphabet by 17,547.9% during the second quarter. Laurel Wealth Advisors LLC now owns 4,122,727 shares of the information services provider’s stock valued at $731,331,000 after buying an additional 4,099,366 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Alphabet by 330.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,989,463 shares of the information services provider’s stock valued at $707,691,000 after buying an additional 3,062,590 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOG opened at $309.32 on Tuesday. The firm has a market capitalization of $3.73 trillion, a PE ratio of 30.50, a P/E/G ratio of 1.80 and a beta of 1.07. The company has a fifty day moving average price of $284.91 and a two-hundred day moving average price of $231.69. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $328.67.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the company posted $2.12 EPS. As a group, analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were issued a $0.21 dividend. The ex-dividend date was Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Analysts Set New Price Targets

Several research firms have recently issued reports on GOOG. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. HSBC reissued a “buy” rating and set a $335.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Barclays boosted their target price on Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. KeyCorp reaffirmed an “overweight” rating and set a $330.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Finally, TD Cowen lifted their price objective on Alphabet from $335.00 to $350.00 and gave the stock a “buy” rating in a report on Friday. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $313.04.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 954 shares of Alphabet stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $317.00, for a total value of $302,418.00. Following the sale, the chief accounting officer owned 11,740 shares of the company’s stock, valued at approximately $3,721,580. The trade was a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 102 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was 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 in the company, valued at $5,750,916.64. This trade represents a 0.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 225,528 shares of company stock worth $61,296,884. Company insiders own 12.99% of the company’s stock.

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.