Isomer Partners LP Takes $8.29 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Isomer Partners LP purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,000 shares of the information services provider’s stock, valued at approximately $8,292,000. Alphabet makes up 8.9% of Isomer Partners LP’s holdings, making the stock its 4th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc lifted its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. LMR Partners LLP acquired a new position in shares of Alphabet during the 3rd quarter worth $32,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the 2nd quarter worth $36,000. Denver PWM LLC acquired a new stake in Alphabet in the second quarter valued at about $41,000. Finally, Quarry LP bought a new position in Alphabet in the second quarter valued at about $53,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GOOGL shares. Loop Capital raised their price target on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. KeyCorp boosted their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Pivotal Research increased their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, DA Davidson started coverage on Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price for the company. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Trading Up 1.2 %

NASDAQ GOOGL opened at $174.71 on Monday. 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 52 week low of $129.68 and a 52 week high of $191.75. The business has a 50 day moving average price of $169.51 and a 200-day moving average price of $170.20. The company has a market cap of $2.14 trillion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 1.24 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results 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. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the business posted $1.55 EPS. As a group, equities analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction on Monday, November 4th. The shares were 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 of the company’s stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 163,624 shares of company stock valued at $27,803,730. Corporate insiders own 11.55% of the company’s stock.

Alphabet 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.