By otakuyassine3@gmail.com 
Inkwell Capital LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 29,583 shares of the information services provider’s stock, valued at approximately $5,600,000. Alphabet accounts for approximately 6.0% of Inkwell Capital LLC’s investment portfolio, making the stock its 2nd largest position.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Compass Planning Associates Inc acquired a new stake in shares of Alphabet during the 4th quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in 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 valued at $37,000 after acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new position in Alphabet in the 4th quarter valued at about $39,000. PayPay Securities Corp boosted 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 worth $46,000 after acquiring an additional 65 shares during the period. Finally, Denver PWM LLC grew its position in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.
Insider Buying and Selling
In other Alphabet news, insider John Kent Walker sold 17,690 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the completion of the sale, the insider now directly owns 43,111 shares in the company, valued at approximately $7,997,521.61. This trade represents a 29.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,797 shares of company stock valued at $21,089,470 over the last ninety days. 11.55% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on GOOGL shares. Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Needham & Company LLC reissued a “buy” rating and issued a $225.00 target price on shares of Alphabet in a research report on Wednesday, February 5th. JPMorgan Chase & Co. lowered their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. The Goldman Sachs Group reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.
Get Our Latest Analysis on Alphabet
Alphabet Stock Up 0.8 %
Shares of NASDAQ GOOGL opened at $146.75 on Tuesday. The company has a 50 day simple moving average of $174.25 and a 200 day simple moving average of $176.82. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm has a market cap of $1.79 trillion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly 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%. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.55%. Alphabet’s payout ratio is 9.94%.
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.
Featured Stories
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).
Receive News & Ratings for Alphabet Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alphabet and related companies with MarketBeat.com’s FREE daily email newsletter.