Truffle Hound Capital LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Truffle Hound Capital LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 32,000 shares of the information services provider’s stock, valued at approximately $6,058,000. Alphabet makes up approximately 2.1% of Truffle Hound Capital LLC’s portfolio, making the stock its 10th biggest holding.

Other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC raised its holdings in Alphabet by 20,990.0% during the 4th quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock worth $1,171,151,000 after purchasing an additional 6,157,413 shares during the last quarter. Amundi grew its position in shares of Alphabet by 18.7% during the 4th quarter. Amundi now owns 29,866,698 shares of the information services provider’s stock worth $5,792,317,000 after buying an additional 4,694,621 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Alphabet in the third quarter valued at approximately $513,024,000. Finally, Geode Capital Management LLC boosted its stake in Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

NASDAQ:GOOGL opened at $157.07 on Wednesday. The firm’s fifty day moving average price is $178.01 and its two-hundred day moving average price is $177.09. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $1.91 trillion, a P/E ratio of 19.51, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a one year low of $147.22 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results 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%. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,368 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,665 shares of company stock worth $16,198,310 in the last ninety days. 11.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Piper Sandler dropped their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Wells Fargo & Company decreased their price objective on shares of Alphabet from $184.00 to $167.00 and set an “equal weight” rating for the company in a report on Monday. Cantor Fitzgerald restated a “neutral” rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. JPMorgan Chase & Co. reduced their target price on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, JMP Securities reissued a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $209.49.

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.