Figure 8 Investment Strategies LLC Has $4.85 Million Stake in Alphabet Inc. $GOOGL

Figure 8 Investment Strategies LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,539 shares of the information services provider’s stock after selling 748 shares during the period. Alphabet comprises about 4.7% of Figure 8 Investment Strategies LLC’s holdings, making the stock its 3rd largest holding. Figure 8 Investment Strategies LLC’s holdings in Alphabet were worth $4,853,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new position in Alphabet during the 1st quarter valued at approximately $4,317,606,000. Vanguard Group Inc. raised its position in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares during the last quarter. Amundi raised its position in Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock valued at $5,034,992,000 after purchasing an additional 3,537,173 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. raised its position in Alphabet by 178.3% during the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock valued at $619,163,000 after purchasing an additional 2,565,400 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 2.1%

Shares of NASDAQ:GOOGL opened at $236.57 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $226.31 and a two-hundred day simple moving average of $188.84. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The stock has a market capitalization of $2.86 trillion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 103 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director directly owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer directly owned 2,402,119 shares in the company, valued at $584,699,785.79. This trade represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,338 shares of company stock valued at $59,062,683. Company insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent analyst reports. Citizens Jmp upped their price target on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Wedbush upped their price target on Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a research report on Wednesday, September 3rd. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. JPMorgan Chase & Co. increased their target price on Alphabet from $200.00 to $232.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Finally, Wolfe Research increased their target price on Alphabet from $220.00 to $290.00 in a research report on Tuesday, September 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $245.88.

Alphabet 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.