BCK Capital Management LP Grows Stock Holdings in Alphabet Inc. $GOOGL

BCK Capital Management LP increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 41.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,139 shares of the information services provider’s stock after purchasing an additional 4,139 shares during the period. Alphabet makes up 2.2% of BCK Capital Management LP’s holdings, making the stock its 11th biggest position. BCK Capital Management LP’s holdings in Alphabet were worth $2,492,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after acquiring an additional 4,473,901 shares during the period. Invesco Ltd. lifted its holdings in Alphabet by 1.4% in the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after acquiring an additional 593,345 shares during the period. Deutsche Bank AG boosted its position in Alphabet by 1.9% in the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after purchasing an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $5,962,389,000 after purchasing an additional 104,859 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

NASDAQ:GOOGL opened at $299.66 on Friday. The stock has a 50 day moving average of $262.39 and a two-hundred day moving average of $213.06. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $306.42. The firm has a market cap of $3.62 trillion, a P/E ratio of 29.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. On average, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. Evercore ISI boosted their target price on shares of Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Moffett Nathanson upped their price objective on shares of Alphabet from $295.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Wells Fargo & Company raised their target price on Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. CIBC lifted their price target on Alphabet to $315.00 in a research note on Monday, October 20th. Finally, Jefferies Financial Group increased their price target on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $305.33.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the transaction, the director directly owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. This trade represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the transaction, the director owned 18,004 shares in the company, valued at $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 225,174 shares of company stock valued at $58,095,223 over the last ninety days. 11.64% of the stock is currently owned by corporate insiders.

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.