Picton Mahoney Asset Management Has $23.64 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Picton Mahoney Asset Management boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 15.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 124,876 shares of the information services provider’s stock after purchasing an additional 16,287 shares during the quarter. Alphabet comprises about 0.7% of Picton Mahoney Asset Management’s holdings, making the stock its 27th biggest position. Picton Mahoney Asset Management’s holdings in Alphabet were worth $23,641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Compass Planning Associates Inc acquired a new position in shares of Alphabet during the fourth quarter worth approximately $30,000. LMR Partners LLP bought a new stake in Alphabet during the 3rd quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the fourth quarter valued at $39,000. Finally, PayPay Securities Corp grew its holdings in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $165.06 on Thursday. Alphabet Inc. has a 12 month low of $147.22 and a 12 month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.01 trillion, a P/E ratio of 20.50, a P/E/G ratio of 1.34 and a beta of 1.02. The company has a 50 day moving average of $181.11 and a 200 day moving average of $176.78.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s payout ratio is currently 9.94%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wolfe Research raised their price target on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 target price on shares of Alphabet in a research report on Wednesday, February 5th. The Goldman Sachs Group reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Thursday, December 12th. Bank of America restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Finally, JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $210.59.

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.