Columbus Hill Capital Management L.P. Sells 5,000 Shares of Alphabet Inc. $GOOGL

Columbus Hill Capital Management L.P. decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 149,415 shares of the information services provider’s stock after selling 5,000 shares during the period. Alphabet comprises approximately 3.8% of Columbus Hill Capital Management L.P.’s portfolio, making the stock its 12th biggest holding. Columbus Hill Capital Management L.P.’s holdings in Alphabet were worth $26,331,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the period. Smart Money Group LLC lifted its holdings in Alphabet by 9.4% in the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock worth $956,000 after buying an additional 532 shares during the period. United Bank increased its stake in shares of Alphabet by 2.1% during the first quarter. United Bank now owns 45,084 shares of the information services provider’s stock valued at $6,972,000 after buying an additional 910 shares during the period. Finally, Integrated Investment Consultants LLC raised its holdings in shares of Alphabet by 16.4% during the first quarter. Integrated Investment Consultants LLC now owns 27,114 shares of the information services provider’s stock valued at $4,193,000 after acquiring an additional 3,822 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent analyst reports. Bank of America lifted their price target on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Cantor Fitzgerald raised their target price on shares of Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. The Goldman Sachs Group boosted their price target on shares of Alphabet from $288.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. UBS Group restated a “neutral” rating and issued a $306.00 price objective (up from $255.00) on shares of Alphabet in a report on Thursday, October 30th. Finally, Susquehanna lifted their price objective on Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a research report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $312.65.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 226,128 shares of company stock valued at $61,326,372 in the last quarter. 11.64% of the stock is owned by insiders.

Alphabet Price Performance

GOOGL stock opened at $321.27 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a 50 day moving average price of $276.15 and a 200-day moving average price of $224.51. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $328.83. The firm has a market capitalization of $3.88 trillion, a price-to-earnings ratio of 31.68, a PEG ratio of 1.86 and a beta of 1.07.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

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.