Capitolis Liquid Global Markets LLC Purchases 483,000 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Capitolis Liquid Global Markets LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 16.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,359,400 shares of the information services provider’s stock after acquiring an additional 483,000 shares during the period. Alphabet accounts for about 6.2% of Capitolis Liquid Global Markets LLC’s holdings, making the stock its 4th biggest position. Capitolis Liquid Global Markets LLC’s holdings in Alphabet were worth $635,934,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Optivise Advisory Services LLC increased its position in Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after purchasing an additional 403 shares during the period. Community Bank N.A. raised its position in Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after acquiring an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd lifted its holdings in Alphabet by 30.0% in the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock valued at $11,816,000 after acquiring an additional 14,262 shares during the period. Absolute Capital Management LLC grew its stake in shares of Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after purchasing an additional 258 shares during the period. Finally, Permanent Capital Management LP purchased a new position in shares of Alphabet in the 4th quarter valued at about $273,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 0.1 %

NASDAQ:GOOGL opened at $164.21 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The business’s 50-day simple moving average is $160.02 and its 200 day simple moving average is $175.50. The stock has a market cap of $1.99 trillion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

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

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GOOGL shares. Piper Sandler upped their target price on shares of Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Bank of America boosted their target price on Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. BMO Capital Markets restated an “outperform” rating and issued a $200.00 price target (down previously from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Westpark Capital upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, April 1st. Finally, Truist Financial cut their target price on shares of Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $199.46.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,824 shares of Alphabet stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total transaction of $529,302.32. Following the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at $2,815,948.32. The trade was a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 146,824 shares of company stock valued at $25,086,603. Corporate insiders own 11.55% of the company’s stock.

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.