Rydar Equities Inc. Purchases Shares of 23,273 Alphabet Inc. $GOOGL

Rydar Equities Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 23,273 shares of the information services provider’s stock, valued at approximately $4,101,000. Alphabet makes up about 3.2% of Rydar Equities Inc.’s investment portfolio, making the stock its 7th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Financial Gravity Companies Inc. acquired a new stake in Alphabet during the second quarter valued at approximately $31,000. CarsonAllaria Wealth Management Ltd. lifted its position in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after buying an additional 67 shares during the period. Vermillion & White Wealth Management Group LLC boosted its stake in Alphabet by 37.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock valued at $57,000 after buying an additional 89 shares in the last quarter. S&T Bank PA grew its position in Alphabet by 40.2% in the second quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock valued at $61,000 after acquiring an additional 99 shares during the period. Finally, Christopher J. Hasenberg Inc grew its position in Alphabet by 77.6% in the second quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock valued at $61,000 after acquiring an additional 152 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the transaction, the chief executive officer owned 2,337,119 shares of the company’s stock, valued at approximately $662,526,494.12. This trade represents a 1.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 190,250 shares of company stock worth $52,387,348 over the last 90 days. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOGL. Sanford C. Bernstein lifted their price objective on Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a report on Thursday, October 30th. Morgan Stanley lifted their price target on shares of Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Bank of America boosted their price target on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. China Renaissance raised their price objective on shares of Alphabet from $207.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, KeyCorp reissued an “overweight” rating and issued a $300.00 target price (up from $265.00) on shares of Alphabet in a report on Monday, October 27th. Four analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.18.

Alphabet Price Performance

GOOGL opened at $306.57 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market capitalization of $3.70 trillion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The company’s 50 day simple moving average is $285.51 and its 200-day simple moving average is $231.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $328.83.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (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 return on equity of 35.00% and a net margin of 32.23%. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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