WIM INVESTMENT MANAGEMENT Ltd Makes New $7.13 Million Investment in Alphabet Inc. $GOOG

WIM INVESTMENT MANAGEMENT Ltd purchased a new position in Alphabet Inc. (NASDAQ:GOOGFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 22,720 shares of the information services provider’s stock, valued at approximately $7,130,000. Alphabet comprises 1.8% of WIM INVESTMENT MANAGEMENT Ltd’s holdings, making the stock its 12th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the business. Imprint Wealth LLC purchased a new position in Alphabet during the 3rd quarter worth approximately $31,000. Nvest Wealth Strategies Inc. purchased a new position in Alphabet during the 4th quarter worth approximately $38,000. Towne Trust Company N.A grew its position in Alphabet by 34.0% during the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after purchasing an additional 34 shares in the last quarter. Winnow Wealth LLC purchased a new position in Alphabet during the 3rd quarter worth approximately $63,000. Finally, CBIZ Investment Advisory Services LLC grew its position in Alphabet by 29.0% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 258 shares of the information services provider’s stock worth $63,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Down 1.1%

Shares of NASDAQ:GOOG opened at $379.38 on Friday. The firm has a fifty day moving average of $335.54 and a two-hundred day moving average of $320.81. The firm has a market capitalization of $4.60 trillion, a P/E ratio of 28.94, a price-to-earnings-growth ratio of 1.62 and a beta of 1.25. Alphabet Inc. has a 12-month low of $163.33 and a 12-month high of $404.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter last year, the business posted $2.81 EPS. On average, equities analysts expect that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet’s dividend payout ratio (DPR) is 6.41%.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction on Friday, March 27th. The shares were sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the sale, the insider owned 51,808 shares of the company’s stock, valued at $14,293,309.12. This trade represents a 14.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 102 shares of Alphabet stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $371.00, for a total transaction of $37,842.00. Following the sale, the director directly owned 18,621 shares of the company’s stock, valued at $6,908,391. This trade represents a 0.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 226,481 shares of company stock worth $27,422,061. 12.99% of the stock is currently owned by company insiders.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

Wall Street Analyst Weigh In

Several research firms have weighed in on GOOG. DZ Bank upgraded shares of Alphabet to a “strong-buy” rating in a research report on Monday, February 16th. BMO Capital Markets reiterated an “outperform” rating and set a $400.00 price objective on shares of Alphabet in a research report on Thursday, February 5th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $395.00 to $460.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Pivotal Research reiterated a “buy” rating and set a $470.00 price objective (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Finally, Piper Sandler reiterated an “overweight” rating and set a $395.00 price objective on shares of Alphabet in a research report on Thursday, February 5th. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $372.65.

View Our Latest Stock Report on GOOG

Alphabet Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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