Sycomore Asset Management Buys 29,799 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sycomore Asset Management increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 165.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,803 shares of the information services provider’s stock after acquiring an additional 29,799 shares during the period. Sycomore Asset Management’s holdings in Alphabet were worth $9,049,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. LMR Partners LLP bought a new position in shares of Alphabet during the third quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Alphabet by 518.8% during 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 purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new position in Alphabet during the 4th quarter valued at approximately $39,000. Denver PWM LLC raised its position in Alphabet by 25.4% during the 3rd 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. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Alphabet in the 3rd quarter worth approximately $66,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,609 shares of company stock worth $21,809,990. 11.55% of the stock is owned by company insiders.

Alphabet Price Performance

NASDAQ GOOGL opened at $184.56 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market capitalization of $2.25 trillion, a price-to-earnings ratio of 22.93, a PEG ratio of 1.34 and a beta of 0.99. The stock has a 50-day moving average of $192.67 and a 200 day moving average of $175.55. Alphabet Inc. has a one year low of $130.66 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GOOGL shares. Stifel Nicolaus boosted their target price on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Truist Financial boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Roth Mkm increased their price target on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $210.62.

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.