Atreides Management LP Has $36.41 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Atreides Management LP lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 59.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 219,517 shares of the information services provider’s stock after selling 317,918 shares during the period. Alphabet makes up approximately 0.9% of Atreides Management LP’s holdings, making the stock its 27th largest position. Atreides Management LP’s holdings in Alphabet were worth $36,407,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GOOGL. Lantz Financial LLC increased its stake in Alphabet by 10.8% during the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock valued at $842,000 after acquiring an additional 452 shares during the period. Inspirion Wealth Advisors LLC increased its stake in Alphabet by 8.6% during the second quarter. Inspirion Wealth Advisors LLC now owns 1,813 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 143 shares during the period. Keystone Wealth Services LLC increased its stake in Alphabet by 1.5% during the second quarter. Keystone Wealth Services LLC now owns 6,947 shares of the information services provider’s stock valued at $1,265,000 after acquiring an additional 102 shares during the period. MJP Associates Inc. ADV increased its stake in Alphabet by 9.9% during the second quarter. MJP Associates Inc. ADV now owns 24,681 shares of the information services provider’s stock valued at $4,496,000 after acquiring an additional 2,216 shares during the period. Finally, Retirement Planning Group LLC increased its stake in Alphabet by 21.2% during the second quarter. Retirement Planning Group LLC now owns 11,981 shares of the information services provider’s stock valued at $2,182,000 after acquiring an additional 2,092 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on GOOGL shares. Sanford C. Bernstein boosted their price target on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Robert W. Baird reiterated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Tuesday. Bank of America upped their price objective on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Truist Financial upped their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 price objective (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $206.08.

Alphabet Price Performance

GOOGL opened at $191.96 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $129.68 and a 12 month high of $195.61. The company has a fifty day simple moving average of $170.66 and a 200 day simple moving average of $170.46. The stock has a market cap of $2.35 trillion, a P/E ratio of 25.46, a P/E/G ratio of 1.24 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the prior year, the company earned $1.55 EPS. On average, research analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 197,123 shares of company stock worth $34,121,676. 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.