Adage Capital Partners GP L.L.C. Purchases 31,200 Shares of Alphabet Inc. $GOOGL

Adage Capital Partners GP L.L.C. boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,320,500 shares of the information services provider’s stock after purchasing an additional 31,200 shares during the period. Alphabet comprises 1.6% of Adage Capital Partners GP L.L.C.’s holdings, making the stock its 8th largest position. Adage Capital Partners GP L.L.C.’s holdings in Alphabet were worth $937,632,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Aberdeen Wealth Management LLC increased its position in Alphabet by 0.7% during the second quarter. Aberdeen Wealth Management LLC now owns 13,784 shares of the information services provider’s stock worth $2,429,000 after buying an additional 100 shares during the last quarter. Atreides Management LP boosted its stake in 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 position in shares of Alphabet in the second quarter valued at about $2,058,000. Strategic Wealth Investment Group LLC raised its stake in Alphabet by 3.3% in the 2nd quarter. Strategic Wealth Investment Group LLC now owns 7,835 shares of the information services provider’s stock worth $1,381,000 after purchasing an additional 253 shares in the last quarter. Finally, Challenger Wealth Management grew its position in shares of Alphabet by 7.5% during the 2nd quarter. Challenger Wealth Management now owns 12,458 shares of the information services provider’s stock worth $2,196,000 after purchasing an additional 869 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $319.50, for a total transaction of $10,383,750.00. Following the completion of the sale, the chief executive officer owned 2,272,119 shares in the company, valued at approximately $725,942,020.50. This represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the transaction, the director directly owned 4,516 shares in the company, valued at $1,264,750.96. This represents a 11.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 226,128 shares of company stock worth $61,326,372. Insiders own 11.64% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $309.29 on Friday. The firm has a market cap of $3.73 trillion, a price-to-earnings ratio of 30.50, a PEG ratio of 1.81 and a beta of 1.07. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $283.14 and its 200 day simple moving average is $229.18. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $328.83.

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

Alphabet Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. BMO Capital Markets set a $294.00 price target on Alphabet and gave the company an “outperform” rating in a research note on Thursday, October 9th. Wolfe Research reaffirmed an “outperform” rating and issued a $350.00 price target (up previously from $290.00) on shares of Alphabet in a research note on Thursday, October 30th. DZ Bank reiterated a “buy” rating on shares of Alphabet in a research note on Thursday, November 20th. Canaccord Genuity Group upped their target price on Alphabet from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Stifel Nicolaus set a $333.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Four investment 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $314.22.

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.