Long Corridor Asset Management Ltd Buys 20,000 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Long Corridor Asset Management Ltd boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 22.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,000 shares of the information services provider’s stock after acquiring an additional 20,000 shares during the quarter. Alphabet accounts for 15.6% of Long Corridor Asset Management Ltd’s portfolio, making the stock its 2nd largest position. Long Corridor Asset Management Ltd’s holdings in Alphabet were worth $20,823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Alphabet by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock valued at $1,871,384,000 after purchasing an additional 337,031 shares in the last quarter. America First Investment Advisors LLC grew its holdings in shares of Alphabet by 0.6% during the third quarter. America First Investment Advisors LLC now owns 140,442 shares of the information services provider’s stock worth $23,292,000 after purchasing an additional 843 shares during the last quarter. German American Bancorp Inc. increased its stake in shares of Alphabet by 6.9% in the third quarter. German American Bancorp Inc. now owns 201,974 shares of the information services provider’s stock valued at $33,497,000 after buying an additional 12,966 shares in the last quarter. Makena Capital Management LLC raised its holdings in shares of Alphabet by 0.3% in the third quarter. Makena Capital Management LLC now owns 91,834 shares of the information services provider’s stock valued at $15,231,000 after buying an additional 314 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its position in Alphabet by 29.5% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 5,189 shares of the information services provider’s stock worth $861,000 after buying an additional 1,181 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Down 3.4 %

Shares of Alphabet stock opened at $145.60 on Friday. The firm has a market cap of $1.77 trillion, a PE ratio of 18.09, a P/E/G ratio of 1.34 and a beta of 1.03. The business’s 50 day simple moving average is $175.15 and its 200 day simple moving average is $176.68. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 52-week low of $145.38 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.55%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Roth Mkm restated a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Citigroup lowered their price target on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Jefferies Financial Group lowered their target price on Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, Stifel Nicolaus upped their price target on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $209.13.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 17,690 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the completion of the sale, the insider now owns 43,111 shares of the company’s stock, valued at approximately $7,997,521.61. This represents a 29.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,797 shares of company stock worth $21,089,470 in the last three months. Insiders own 11.55% of the company’s stock.

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.