BCK Capital Management LP Has $2.52 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

BCK Capital Management LP reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 21.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,318 shares of the information services provider’s stock after selling 3,669 shares during the quarter. Alphabet comprises 1.8% of BCK Capital Management LP’s portfolio, making the stock its 14th biggest position. BCK Capital Management LP’s holdings in Alphabet were worth $2,521,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of GOOGL. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. Regent Peak Wealth Advisors LLC lifted its holdings in shares of Alphabet by 0.9% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 23,533 shares of the information services provider’s stock valued at $4,455,000 after purchasing an additional 207 shares in the last quarter. Wealth Group Ltd. lifted its holdings in shares of Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock valued at $299,000 after purchasing an additional 78 shares in the last quarter. Capital & Planning LLC lifted its holdings in shares of Alphabet by 34.3% during the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider’s stock valued at $830,000 after purchasing an additional 1,119 shares in the last quarter. Finally, Joule Financial LLC lifted its holdings in shares of Alphabet by 22.5% during the 4th quarter. Joule Financial LLC now owns 13,028 shares of the information services provider’s stock valued at $2,466,000 after purchasing an additional 2,392 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 1.4%

Shares of Alphabet stock opened at $170.87 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The stock has a market cap of $2.07 trillion, a P/E ratio of 21.23, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $158.42 and its 200-day moving average is $174.89.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the previous year, the firm earned $1.89 EPS. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Mizuho cut their price objective on Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Oppenheimer lifted their price objective on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. JPMorgan Chase & Co. cut their price objective on Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Stifel Nicolaus cut their price objective on Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, UBS Group set a $195.00 target price on Alphabet in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the transaction, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. The trade was a 8.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,054 shares of company stock valued at $17,722,605. 11.64% of the stock is owned by insiders.

About Alphabet

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.