LMR Partners LLP Invests $32,000 in Alphabet Inc. (NASDAQ:GOOGL)

LMR Partners LLP purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 191 shares of the information services provider’s stock, valued at approximately $32,000.

A number of other hedge funds have also recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc boosted its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Kings Path Partners LLC purchased a new position in Alphabet during the second quarter valued at $36,000. Denver PWM LLC bought a new stake in shares of Alphabet during the 2nd quarter valued at $41,000. Quarry LP bought a new position in shares of Alphabet during the second quarter valued at approximately $53,000. Finally, Summit Securities Group LLC bought a new stake in Alphabet during the 2nd quarter valued at about $55,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 0.2 %

Shares of Alphabet stock opened at $168.95 on Monday. The firm has a fifty day moving average price of $168.47 and a 200 day moving average price of $170.31. The stock has a market cap of $2.07 trillion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 1.20 and a beta of 1.03. 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 $127.90 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping 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 the consensus estimate of $72.85 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the sale, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. The trade was a 35.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GOOGL. The Goldman Sachs Group lowered their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Seven research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

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.