Absoluto Partners Gestao de Recursos Ltda Trims Stake in Alphabet Inc. $GOOGL

Absoluto Partners Gestao de Recursos Ltda cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 95.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 842 shares of the information services provider’s stock after selling 18,118 shares during the quarter. Alphabet makes up approximately 0.1% of Absoluto Partners Gestao de Recursos Ltda’s investment portfolio, making the stock its 28th largest position. Absoluto Partners Gestao de Recursos Ltda’s holdings in Alphabet were worth $148,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atreides Management LP lifted its stake in shares of Alphabet by 402.9% in the 2nd quarter. Atreides Management LP now owns 950,859 shares of the information services provider’s stock valued at $167,570,000 after purchasing an additional 761,782 shares during the period. Vienna Asset Management LLC acquired a new stake in Alphabet during the second quarter valued at $2,058,000. Strategic Wealth Investment Group LLC increased its holdings in Alphabet by 3.3% in the second quarter. Strategic Wealth Investment Group LLC now owns 7,835 shares of the information services provider’s stock valued at $1,381,000 after buying an additional 253 shares in the last quarter. Challenger Wealth Management increased its holdings in Alphabet by 7.5% in the second quarter. Challenger Wealth Management now owns 12,458 shares of the information services provider’s stock valued at $2,196,000 after buying an additional 869 shares in the last quarter. Finally, Vista Capital Partners Inc. raised its position in shares of Alphabet by 21.7% in the second quarter. Vista Capital Partners Inc. now owns 4,226 shares of the information services provider’s stock worth $745,000 after acquiring an additional 754 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $319.50, for a total transaction of $10,383,750.00. Following the transaction, the chief executive officer directly owned 2,272,119 shares of the company’s stock, valued at $725,942,020.50. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 102 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $317.66, for a total transaction of $32,401.32. Following the completion of the sale, the director directly owned 18,104 shares of the company’s stock, valued at approximately $5,750,916.64. This trade represents a 0.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 226,128 shares of company stock valued at $61,326,372 in the last ninety days. 11.64% of the stock is currently owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $309.29 on Friday. Alphabet Inc. has a one year low of $140.53 and a one year high of $328.83. 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 stock has a market cap of $3.73 trillion, a PE ratio of 30.50, a P/E/G ratio of 1.81 and a beta of 1.07. The stock has a 50 day moving average price of $283.14 and a 200 day moving average price of $229.18.

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

Alphabet Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GOOGL shares. Deutsche Bank Aktiengesellschaft raised their target price on Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Citigroup reissued a “buy” rating and issued a $343.00 price objective (up from $280.00) on shares of Alphabet in a report on Thursday, October 30th. UBS Group reaffirmed a “neutral” rating and set a $306.00 target price (up from $255.00) on shares of Alphabet in a research note on Thursday, October 30th. Morgan Stanley increased their target price on Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Cantor Fitzgerald boosted their price target on shares of Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $314.22.

Alphabet Company 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.