Lavaca Capital LLC Purchases 10,000 Shares of Alphabet Inc. (NASDAQ:GOOGL)

15 Dec 2024

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Lavaca Capital LLC Purchases 10000 Shares of Alphabet Inc NASDAQGOOGL

Lavaca Capital LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 219.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,547

Lavaca Capital LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 219.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,547 shares of the information services provider's stock after buying an additional 10,000 shares during the period. Alphabet comprises 1.0% of Lavaca Capital LLC's portfolio, making the stock its 11th biggest holding. Lavaca Capital LLC's holdings in Alphabet were worth $2,413,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc boosted its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. LMR Partners LLP acquired a new stake in Alphabet during the third quarter valued at approximately $32,000. Kings Path Partners LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at approximately $36,000. Denver PWM LLC bought a new position in shares of Alphabet during the 2nd quarter worth approximately $41,000. Finally, Quarry LP acquired a new stake in Alphabet in the 2nd quarter valued at $53,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 1.1 %

Shares of Alphabet stock traded down $2.14 on Friday, hitting $189.82. The company had a trading volume of 25,111,941 shares, compared to its average volume of 27,397,740. The stock has a 50-day moving average of $171.18 and a 200-day moving average of $170.60. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $195.61. The firm has a market capitalization of $2.32 trillion, a P/E ratio of 25.39, a P/E/G ratio of 1.39 and a beta of 1.01.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet's payout ratio is presently 10.61%.

Analyst Ratings Changes

A number of brokerages have issued reports on GOOGL. Bank of America lifted their price objective on Alphabet from $206.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. KeyCorp upped their price objective on shares of Alphabet from $200.00 to $215.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Sanford C. Bernstein raised their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a "market perform" rating in a report on Wednesday, October 30th. Morgan Stanley boosted their target price on Alphabet from $190.00 to $205.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Finally, Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $206.08.

Get Our Latest Report on GOOGL

Insider Buying and Selling

In related news, insider John Kent Walker sold 16,802 shares of the firm's stock in a transaction on Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the transaction, the insider now owns 43,999 shares of the company's stock, valued at approximately $7,280,514.53. This trade represents a 27.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 198,623 shares of company stock worth $34,413,006. 11.55% of the stock is owned by corporate insiders.

About Alphabet

(Free Report)

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.