GAMMA Investing LLC Acquires Shares of 34,819 Alphabet Inc. (NASDAQ:GOOGL)

GAMMA Investing LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 34,819 shares of the information services provider’s stock, valued at approximately $4,878,000. Alphabet comprises about 1.3% of GAMMA Investing LLC’s portfolio, making the stock its 9th largest position.

Other hedge funds also recently bought and sold shares of the company. Aire Advisors LLC boosted its position in Alphabet by 0.6% in the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after buying an additional 68 shares during the period. Defined Wealth Management LLC boosted its position in Alphabet by 2.9% in the 4th quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock valued at $354,000 after buying an additional 71 shares during the period. WealthCare Investment Partners LLC boosted its position in Alphabet by 2.1% in the 4th quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock valued at $482,000 after buying an additional 71 shares during the period. Peoples Financial Services CORP. boosted its position in Alphabet by 0.4% in the 4th quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider’s stock valued at $2,331,000 after buying an additional 72 shares during the period. Finally, RAM Investment Partners LLC raised its holdings in shares of Alphabet by 1.0% in the 4th quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider’s stock valued at $1,055,000 after purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,129 shares of company stock valued at $40,382,765. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Truist Financial raised their price objective on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Loop Capital raised their price objective on shares of Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a report on Wednesday. Argus raised their price objective on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday. Roth Mkm raised their price objective on shares of Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $190.60.

Alphabet Stock Up 0.7 %

Shares of NASDAQ:GOOGL opened at $163.86 on Thursday. The company has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.29 and a beta of 1.05. The firm’s 50-day simple moving average is $149.22 and its 200-day simple moving average is $141.95. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a fifty-two week low of $103.71 and a fifty-two week high of $174.71.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the firm earned $1.17 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 7.49 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, June 10th.

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.