Alphabet Inc. (NASDAQ:GOOGL) Stock Position Lowered by Anomaly Capital Management LP

Anomaly Capital Management LP lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 27.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 983,948 shares of the information services provider’s stock after selling 376,727 shares during the period. Alphabet comprises approximately 6.8% of Anomaly Capital Management LP’s investment portfolio, making the stock its 4th biggest holding. Anomaly Capital Management LP’s holdings in Alphabet were worth $179,226,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. American International Group Inc. lifted its position in shares of Alphabet by 11.5% during the fourth quarter. American International Group Inc. now owns 1,951,860 shares of the information services provider’s stock valued at $272,655,000 after buying an additional 200,891 shares during the last quarter. Pinebridge Investments L.P. raised its stake in shares of Alphabet by 9.5% during the 4th quarter. Pinebridge Investments L.P. now owns 1,957,186 shares of the information services provider’s stock worth $273,401,000 after acquiring an additional 170,378 shares in the last quarter. Exencial Wealth Advisors LLC lifted its position in Alphabet by 2.5% during the fourth quarter. Exencial Wealth Advisors LLC now owns 130,848 shares of the information services provider’s stock valued at $18,278,000 after acquiring an additional 3,231 shares during the last quarter. Aristides Capital LLC boosted its stake in Alphabet by 32.7% in the fourth quarter. Aristides Capital LLC now owns 64,960 shares of the information services provider’s stock valued at $9,074,000 after acquiring an additional 16,000 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. grew its holdings in Alphabet by 5.1% in the fourth quarter. Pinnacle West Asset Management Inc. now owns 14,430 shares of the information services provider’s stock worth $2,016,000 after purchasing an additional 695 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on GOOGL shares. Pivotal Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, October 1st. Guggenheim increased their price target on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Jefferies Financial Group boosted their price target on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Bank of America increased their price objective on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $201.14.

Alphabet Stock Performance

Shares of GOOGL stock opened at $167.06 on Friday. The company has a market capitalization of $2.06 trillion, a P/E ratio of 25.62, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The business’s 50 day moving average is $162.06 and its two-hundred day moving average is $167.28. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the firm posted $1.44 EPS. Analysts expect that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the sale, the chief executive officer now directly owns 2,129,306 shares in the company, valued at approximately $355,743,153.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,129,306 shares of the company’s stock, valued at approximately $355,743,153.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 217,592 shares of company stock worth $35,922,911 in the last 90 days. 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.