104,500 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by Long Walk Management LP

Long Walk Management LP purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 104,500 shares of the information services provider’s stock, valued at approximately $20,101,000. Alphabet accounts for about 7.3% of Long Walk Management LP’s investment portfolio, making the stock its 7th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Compass Planning Associates Inc bought a new stake in shares of Alphabet in the fourth quarter worth about $30,000. LMR Partners LLP purchased a new stake in Alphabet in the 3rd quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $39,000. Finally, PayPay Securities Corp raised its holdings in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.7 %

Alphabet stock opened at $162.24 on Friday. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05. The company has a market cap of $1.98 trillion, a P/E ratio of 20.15, a P/E/G ratio of 1.34 and a beta of 1.02. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $180.49 and a two-hundred day simple moving average of $176.68.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors 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%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. KeyCorp cut their price target on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research note on Tuesday, December 10th. Morgan Stanley decreased their price target on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Wolfe Research lifted their price objective on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Citigroup decreased their target price on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $210.59.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the transaction, the director now owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,812 shares of company stock worth $19,336,979. Corporate insiders own 11.55% of the company’s stock.

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.