Greenland Capital Management LP Raises Stake in Alphabet Inc. $GOOG

Greenland Capital Management LP boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 118.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,965 shares of the information services provider’s stock after buying an additional 5,948 shares during the quarter. Greenland Capital Management LP’s holdings in Alphabet were worth $3,874,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GOOG. Imprint Wealth LLC bought a new stake in shares of Alphabet in the 3rd quarter worth approximately $31,000. Nvest Wealth Strategies Inc. purchased a new stake in Alphabet in the fourth quarter worth $38,000. Lifetime Wealth Management P.C. bought a new stake in shares of Alphabet in the fourth quarter valued at $38,000. Bard Associates Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at $41,000. Finally, Commonwealth Retirement Investments LLC purchased a new position in shares of Alphabet during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Several equities research analysts recently weighed in on the company. Piper Sandler reissued an “overweight” rating and issued a $395.00 price objective (down from $445.00) on shares of Alphabet in a report on Thursday, July 23rd. Wedbush initiated coverage on shares of Alphabet in a report on Thursday, July 16th. They set an “outperform” rating and a $445.00 price objective on the stock. UBS Group reiterated a “neutral” rating and issued a $379.00 target price (down from $400.00) on shares of Alphabet in a research note on Thursday, July 23rd. Freedom Capital raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, Wolfe Research restated an “outperform” rating on shares of Alphabet in a research note on Thursday. Six equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $415.55.

NASDAQ:GOOG opened at $342.88 on Friday. The business’s fifty day moving average is $347.79 and its 200 day moving average is $339.97. The firm has a market cap of $4.19 trillion, a price-to-earnings ratio of 17.22, a PEG ratio of 0.96 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. Alphabet Inc. has a 52-week low of $206.96 and a 52-week high of $404.47.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, topping the consensus estimate of $2.87 by $6.24. The business had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $116.53 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The firm’s revenue was up 24.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.31 EPS. Research analysts predict that Alphabet Inc. will post 20.5 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be issued a dividend of $0.22 per share. This represents a $0.88 divide...