Fosse Capital Partners LLP Has $92.46 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Fosse Capital Partners LLP decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 557,495 shares of the information services provider’s stock after selling 91,000 shares during the period. Alphabet comprises about 38.0% of Fosse Capital Partners LLP’s investment portfolio, making the stock its biggest holding. Fosse Capital Partners LLP’s holdings in Alphabet were worth $92,461,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. LMR Partners LLP bought a new stake in shares of Alphabet during the 3rd quarter valued at about $32,000. Kings Path Partners LLC acquired a new stake in Alphabet during the second quarter worth about $36,000. Denver PWM LLC bought a new position in Alphabet in the second quarter worth about $41,000. Finally, Quarry LP acquired a new position in Alphabet in the second quarter valued at approximately $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the topic of a number of research reports. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company increased their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reduced their price target on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Pivotal Research increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Sanford C. Bernstein upped their target price on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Price Performance

NASDAQ GOOGL opened at $174.71 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 1.21 and a beta of 1.01. The company has a 50 day simple moving average of $169.30 and a 200-day simple moving average of $170.31. Alphabet Inc. has a 52-week low of $129.68 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (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 company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the business posted $1.55 EPS. Equities research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,624 shares of company stock worth $27,803,730 in the last three months. 11.55% of the stock is owned by 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.