Hudson Bay Capital Management LP Has $40.14 Million Stake in Alphabet Inc. $GOOG

Hudson Bay Capital Management LP lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 74.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 226,251 shares of the information services provider’s stock after selling 645,739 shares during the period. Hudson Bay Capital Management LP’s holdings in Alphabet were worth $40,135,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GOOG. RDA Financial Network increased its stake in shares of Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after acquiring an additional 554 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in Alphabet by 1.4% during the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock valued at $30,160,000 after purchasing an additional 2,304 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Alphabet by 3.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,164,341 shares of the information services provider’s stock valued at $206,542,000 after purchasing an additional 42,028 shares in the last quarter. Oldfather Financial Services LLC bought a new stake in Alphabet in the second quarter valued at approximately $213,000. Finally, Tower View Wealth Management LLC raised its holdings in Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after purchasing an additional 1,776 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 228,906 shares of company stock worth $62,127,158 in the last ninety days. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GOOG shares. Robert W. Baird boosted their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Sanford C. Bernstein raised their price target on Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, November 7th. Cowen reiterated a “buy” rating on shares of Alphabet in a report on Friday. Finally, Morgan Stanley upped their target price on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $313.04.

Alphabet Trading Down 1.0%

Alphabet stock opened at $310.52 on Friday. The company has a market cap of $3.75 trillion, a price-to-earnings ratio of 30.62, a P/E/G ratio of 1.82 and a beta of 1.07. The firm has a 50-day moving average of $283.75 and a 200-day moving average of $229.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. Alphabet Inc. has a one year low of $142.66 and a one year high of $328.67.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.Alphabet’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.12 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is 8.28%.

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.