GAMMA Investing LLC Increases Position in Alphabet Inc. $GOOGL

GAMMA Investing LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 131,083 shares of the information services provider’s stock after purchasing an additional 13,198 shares during the quarter. Alphabet comprises about 1.8% of GAMMA Investing LLC’s portfolio, making the stock its 8th biggest position. GAMMA Investing LLC’s holdings in Alphabet were worth $31,866,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GOOGL. Brighton Jones LLC grew its holdings in 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 acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Alphabet by 3.5% in 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 in the last quarter. United Bank lifted its position in shares of Alphabet by 2.1% in the 1st quarter. United Bank now owns 45,084 shares of the information services provider’s stock worth $6,972,000 after purchasing an additional 910 shares during the period. Integrated Investment Consultants LLC boosted its stake 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 purchasing an additional 3,822 shares in the last quarter. Finally, Waddell & Associates LLC increased its holdings in Alphabet by 14.8% during the first quarter. Waddell & Associates LLC now owns 7,437 shares of the information services provider’s stock valued at $1,150,000 after buying an additional 959 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Mizuho set a $325.00 target price on Alphabet in a report on Thursday, October 30th. Roth Capital upped their price objective on Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. BNP Paribas assumed coverage on Alphabet in a research report on Monday, November 24th. They set an “outperform” rating and a $355.00 price objective on the stock. Royal Bank Of Canada reiterated a “buy” rating and issued a $315.00 target price on shares of Alphabet in a report on Tuesday, December 2nd. Finally, Loop Capital raised shares of Alphabet from a “hold” rating to a “buy” rating and increased their price target for the company from $260.00 to $320.00 in a research report on Tuesday, November 18th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $315.18.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 954 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $317.00, for a total value of $302,418.00. Following the transaction, the chief accounting officer directly owned 11,740 shares of the company’s stock, valued at $3,721,580. This represents a 7.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $319.50, for a total value of $10,383,750.00. Following the completion of the transaction, the chief executive officer owned 2,272,119 shares of the company’s stock, valued at $725,942,020.50. This trade represents a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 190,250 shares of company stock valued at $52,387,348 over the last three months. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of GOOGL stock opened at $306.57 on Wednesday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two 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. The firm has a market capitalization of $3.70 trillion, a price-to-earnings ratio of 30.23, a PEG ratio of 1.78 and a beta of 1.07. The stock’s 50-day simple moving average is $285.51 and its 200-day simple moving average is $231.90.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Alphabet 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.