Entropy Technologies LP Grows Stake in Alphabet Inc. $GOOGL

Entropy Technologies LP lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 157.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 51,243 shares of the information services provider’s stock after acquiring an additional 31,365 shares during the quarter. Alphabet comprises approximately 0.7% of Entropy Technologies LP’s portfolio, making the stock its 20th largest position. Entropy Technologies LP’s holdings in Alphabet were worth $9,031,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Swiss National Bank boosted its position in Alphabet by 7.1% in the 2nd quarter. Swiss National Bank now owns 17,657,100 shares of the information services provider’s stock valued at $3,111,711,000 after buying an additional 1,177,600 shares during the last quarter. Personal CFO Solutions LLC lifted its stake in shares of Alphabet by 3.4% in the second quarter. Personal CFO Solutions LLC now owns 59,114 shares of the information services provider’s stock worth $10,418,000 after acquiring an additional 1,963 shares in the last quarter. Willis Investment Counsel boosted its holdings in Alphabet by 0.8% in the second quarter. Willis Investment Counsel now owns 50,678 shares of the information services provider’s stock valued at $8,931,000 after purchasing an additional 419 shares during the last quarter. ABN AMRO Bank N.V. acquired a new stake in Alphabet during the 2nd quarter valued at approximately $52,868,000. Finally, Handelsbanken Fonder AB increased its holdings in Alphabet by 0.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 2,948,138 shares of the information services provider’s stock worth $519,550,000 after purchasing an additional 20,286 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 193,628 shares of company stock worth $50,942,622 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research reports. Tigress Financial increased their price objective on shares of Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research note on Friday, September 5th. New Street Research increased their price target on Alphabet from $275.00 to $295.00 in a research report on Friday, October 24th. Cantor Fitzgerald raised their price target on Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Loop Capital upgraded Alphabet from a “hold” rating to a “buy” rating and boosted their price objective for the company from $260.00 to $320.00 in a research report on Tuesday, November 18th. Finally, Wells Fargo & Company increased their target price on Alphabet from $236.00 to $268.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.06.

Alphabet Trading Up 0.3%

Shares of GOOGL stock opened at $315.81 on Wednesday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. The firm has a market capitalization of $3.81 trillion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07. The stock has a fifty day moving average of $271.77 and a two-hundred day moving average of $221.67. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75.

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

Alphabet Dividend Announcement

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