Altarock Partners LP Has $184.24 Million Holdings in Alphabet Inc. $GOOGL

Altarock Partners LP cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 69.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,045,429 shares of the information services provider’s stock after selling 2,408,938 shares during the quarter. Alphabet accounts for about 3.4% of Altarock Partners LP’s investment portfolio, making the stock its 7th largest holding. Altarock Partners LP’s holdings in Alphabet were worth $184,236,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in shares of Alphabet by 3.9% during the 4th 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 period. Revolve Wealth Partners LLC boosted its position in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the period. Smart Money Group LLC boosted its position in Alphabet by 9.4% during the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock valued at $956,000 after purchasing an additional 532 shares during the period. United Bank grew its stake in Alphabet by 2.1% during the 1st quarter. United Bank now owns 45,084 shares of the information services provider’s stock worth $6,972,000 after buying an additional 910 shares during the last quarter. Finally, Integrated Investment Consultants LLC increased its position in Alphabet by 16.4% in the first quarter. Integrated Investment Consultants LLC now owns 27,114 shares of the information services provider’s stock worth $4,193,000 after buying an additional 3,822 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the transaction, the chief executive officer directly owned 2,402,119 shares in the company, valued at $584,699,785.79. The trade was a 1.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 226,128 shares of company stock valued at $61,326,372. 11.64% of the stock is currently owned by insiders.

Alphabet Stock Down 1.0%

Shares of GOOGL opened at $309.29 on Friday. The business’s fifty day moving average price is $283.14 and its two-hundred day moving average price is $229.18. The firm has a market capitalization of $3.73 trillion, a price-to-earnings ratio of 30.50, a PEG ratio of 1.81 and a beta of 1.07. Alphabet Inc. has a 52 week low of $140.53 and a 52 week 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.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 32.23% and a return on equity of 35.00%. On average, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.21 dividend. 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 is currently 8.28%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GOOGL shares. CICC Research boosted their price target on shares of Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a report on Friday, October 31st. BMO Capital Markets set a $294.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a research report on Thursday, October 9th. Citizens Jmp boosted their target price on shares of Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $320.00 price target (up previously from $245.00) on shares of Alphabet in a report 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 given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.