Alphabet Inc. (NASDAQ:GOOGL) is Picton Mahoney Asset Management’s 10th Largest Position

Picton Mahoney Asset Management decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 34.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 180,231 shares of the information services provider’s stock after selling 94,770 shares during the quarter. Alphabet comprises 1.3% of Picton Mahoney Asset Management’s holdings, making the stock its 10th largest position. Picton Mahoney Asset Management’s holdings in Alphabet were worth $32,831,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC grew its holdings in shares of Alphabet by 9.5% during the 4th quarter. Wealthspire Advisors LLC now owns 72,654 shares of the information services provider’s stock worth $10,149,000 after purchasing an additional 6,326 shares during the period. Breed s Hill Capital LLC acquired a new position in Alphabet in the fourth quarter valued at about $602,000. GDS Wealth Management boosted its stake in Alphabet by 5.4% during the fourth quarter. GDS Wealth Management now owns 100,489 shares of the information services provider’s stock worth $14,037,000 after buying an additional 5,151 shares during the period. US Asset Management LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at about $3,380,000. Finally, Prossimo Advisors LLC raised its stake in shares of Alphabet by 0.5% in the 4th quarter. Prossimo Advisors LLC now owns 25,870 shares of the information services provider’s stock valued at $3,614,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the transaction, the chief executive officer now owns 2,137,385 shares in the company, valued at $339,160,251.80. The disclosure for this sale can be found here. Insiders have sold a total of 179,367 shares of company stock valued at $30,016,931 over the last quarter. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. UBS Group raised their price target on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. DA Davidson started coverage on Alphabet in a report on Tuesday. They issued a “neutral” rating and a $170.00 price objective on the stock. Loop Capital restated a “hold” rating and set a $170.00 target price on shares of Alphabet in a report on Wednesday, July 3rd. Finally, Roth Mkm reiterated a “buy” rating and set a $206.00 price target on shares of Alphabet in a research note on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Trading Up 2.3 %

Shares of Alphabet stock opened at $154.69 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $168.12 and a 200-day simple moving average of $164.36. The stock has a market cap of $1.91 trillion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the prior year, the firm posted $1.44 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.52%. Alphabet’s dividend payout ratio is presently 12.27%.

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.