Alphabet Inc. (NASDAQ:GOOG) Stock Position Increased by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 15.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,750 shares of the information services provider’s stock after purchasing an additional 10,537 shares during the period. Alphabet accounts for approximately 1.2% of GAMMA Investing LLC’s holdings, making the stock its 9th biggest position. GAMMA Investing LLC’s holdings in Alphabet were worth $14,616,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Weiss Asset Management LP purchased a new stake in Alphabet during the third quarter valued at $25,000. Abich Financial Wealth Management LLC raised its position in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $33,000. HWG Holdings LP bought a new position in shares of Alphabet in the 2nd quarter valued at about $40,000. Finally, Slocum Gordon & Co LLP purchased a new position in Alphabet in the second quarter worth about $44,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.1 %

NASDAQ:GOOG opened at $190.63 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $202.88. The company has a 50-day moving average of $180.72 and a 200 day moving average of $173.79. The firm has a market cap of $2.33 trillion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 1.38 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $1.55 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total transaction of $473,929.82. Following the completion of the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,406,343.27. The trade was a 9.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 154,519 shares of company stock valued at $27,734,316. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Scotiabank started coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. Finally, Pivotal Research upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

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.