Ring Mountain Capital LLC Acquires Shares of 30,598 Alphabet Inc. (NASDAQ:GOOGL)

Ring Mountain Capital LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 30,598 shares of the information services provider’s stock, valued at approximately $5,792,000. Alphabet makes up approximately 3.9% of Ring Mountain Capital LLC’s investment portfolio, making the stock its 8th biggest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Compass Planning Associates Inc acquired a new stake in shares of Alphabet during the 4th quarter valued at approximately $30,000. LMR Partners LLP acquired a new stake in shares of Alphabet during the 3rd quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the 4th quarter valued at approximately $39,000. Finally, PayPay Securities Corp raised its position in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOGL. JMP Securities restated a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush lifted their price objective on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Needham & Company LLC restated a “buy” rating and set a $225.00 price objective on shares of Alphabet in a research report on Wednesday, February 5th. The Goldman Sachs Group restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Thursday, December 12th. Finally, Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $210.62.

Alphabet Stock Down 0.7 %

Shares of Alphabet stock opened at $164.29 on Tuesday. The company has a fifty day moving average price of $185.05 and a 200 day moving average price of $176.58. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $146.08 and a twelve month high of $207.05. The stock has a market cap of $2.00 trillion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio is currently 9.94%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock worth $17,374,274 in the last quarter. 11.55% of the stock is owned by corporate insiders.

About Alphabet

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.