Cordatus Wealth Management LLC Invests $758,000 in Alphabet Inc. $GOOGL

Cordatus Wealth Management LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,300 shares of the information services provider’s stock, valued at approximately $758,000.

Other hedge funds have also recently bought and sold shares of the company. Bridgeway Capital Management LLC lifted its position in shares of Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares during the last quarter. Alaethes Wealth LLC increased its holdings in Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after buying an additional 84 shares during the last quarter. Moment Partners LLC raised its stake in Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after buying an additional 504 shares in the last quarter. Welch Group LLC raised its stake in Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock valued at $11,325,000 after buying an additional 2,467 shares in the last quarter. Finally, Elgethun Capital Management lifted its holdings in Alphabet by 4.8% during the 1st quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider’s stock worth $1,312,000 after buying an additional 390 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $320.02 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $328.83. The company has a market cap of $3.86 trillion, a PE ratio of 31.56, a P/E/G ratio of 1.86 and a beta of 1.05. The stock has a 50 day simple moving average of $269.25 and a 200-day simple moving average of $219.18. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GOOGL shares. BNP Paribas started coverage on shares of Alphabet in a report on Monday, November 24th. They issued an “outperform” rating and a $355.00 price objective for the company. CICC Research raised their price target on shares of Alphabet from $240.00 to $303.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Needham & Company LLC increased their price objective on shares of Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Oppenheimer lifted their target price on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Four analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $307.84.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 225,072 shares of company stock valued at $58,074,027. Company insiders own 11.64% of the company’s stock.

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.