Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Abrams Capital Management L.P.

Abrams Capital Management L.P. increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,124,130 shares of the information services provider’s stock after acquiring an additional 56,935 shares during the period. Alphabet makes up 6.5% of Abrams Capital Management L.P.’s portfolio, making the stock its 4th biggest position. Abrams Capital Management L.P.’s holdings in Alphabet were worth $402,098,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GOOGL. Compass Planning Associates Inc acquired a new position in shares of Alphabet during the fourth quarter valued at $30,000. LMR Partners LLP acquired a new position in Alphabet during the 3rd quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. increased its stake 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 buying an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $39,000. Finally, PayPay Securities Corp lifted its stake in shares of Alphabet by 36.1% in the 4th 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. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the transaction, the director now owns 272,466 shares of the company’s stock, valued at $50,376,238.74. The trade was a 9.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock valued at $17,374,274 over the last quarter. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Piper Sandler dropped their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Bank of America reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Robert W. Baird restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Tuesday, December 10th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.

Alphabet Stock Up 0.7 %

Shares of Alphabet stock opened at $163.99 on Monday. The stock has a 50-day simple moving average of $182.57 and a 200-day simple moving average of $176.65. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05. The firm has a market cap of $2.00 trillion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 1.34 and a beta of 1.02. 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 (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

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.