Point72 Europe London LLP Acquires New Stake in Alphabet Inc. (NASDAQ:GOOG)

Point72 Europe London LLP bought a new stake in Alphabet Inc. (NASDAQ:GOOGFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 17,792 shares of the information services provider’s stock, valued at approximately $2,507,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Partnership Wealth Management LLC acquired a new stake in Alphabet during the fourth quarter worth approximately $26,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $26,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at $28,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet in the fourth quarter valued at $32,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in Alphabet during the fourth quarter worth about $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.9 %

Shares of NASDAQ:GOOG traded up $1.56 during trading on Tuesday, reaching $178.19. 14,390,707 shares of the stock were exchanged, compared to its average volume of 21,439,945. The firm’s 50-day moving average price is $168.21 and its 200 day moving average price is $151.65. The firm has a market cap of $2.20 trillion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 1.31 and a beta of 1.01. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $179.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.69 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the sale, the chief executive officer now owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The disclosure for this sale can be found here. Insiders have sold a total of 157,458 shares of company stock worth $25,538,973 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on GOOG shares. Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer upped their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus increased their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $165.67.

Read Our Latest Stock Report on GOOG

About Alphabet

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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