Absolute Gestao de Investimentos Ltda. Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Absolute Gestao de Investimentos Ltda. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1,120.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,078 shares of the information services provider’s stock after buying an additional 25,778 shares during the quarter. Alphabet accounts for about 2.6% of Absolute Gestao de Investimentos Ltda.’s investment portfolio, making the stock its 11th largest position. Absolute Gestao de Investimentos Ltda.’s holdings in Alphabet were worth $5,114,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Nebula Research & Development LLC bought a new stake in Alphabet during the 4th quarter worth approximately $787,000. New Hampshire Trust raised its stake in Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after acquiring an additional 1,132 shares during the period. Berkshire Money Management Inc. bought a new stake in Alphabet during the 1st quarter worth approximately $359,000. Schneider Downs Wealth Management Advisors LP raised its stake in Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after acquiring an additional 2,351 shares during the period. Finally, Sanders Morris Harris LLC bought a new stake in Alphabet during the 1st quarter worth approximately $842,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $162.98 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business has a 50-day moving average price of $162.06 and a 200 day moving average price of $167.41. The company has a market capitalization of $2.01 trillion, a P/E ratio of 25.00, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the previous year, the company posted $1.44 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now owns 30,824 shares in the company, valued at $5,728,640.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 217,592 shares of company stock worth $35,922,911 over the last quarter. Insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on GOOGL. Citigroup raised their target price on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Rosenblatt Securities restated a “neutral” rating and set a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. DA Davidson started coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, September 25th. Finally, Wedbush reiterated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Thursday, September 5th. 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $201.14.

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.