Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Point72 Europe London LLP

Point72 Europe London LLP lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 360.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 387,096 shares of the information services provider’s stock after acquiring an additional 302,996 shares during the period. Alphabet makes up 4.2% of Point72 Europe London LLP’s portfolio, making the stock its 3rd largest position. Point72 Europe London LLP’s holdings in Alphabet were worth $73,277,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after buying an additional 4,567,275 shares during the last quarter. Regent Peak Wealth Advisors LLC increased its stake in shares of Alphabet by 0.9% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 23,533 shares of the information services provider’s stock worth $4,455,000 after buying an additional 207 shares during the period. Wealth Group Ltd. increased its position in shares of Alphabet by 5.2% in the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock valued at $299,000 after purchasing an additional 78 shares during the last quarter. Sightline Wealth Advisors LLC purchased a new stake in Alphabet during the 4th quarter worth about $223,000. Finally, PFW Advisors LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $1,218,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $165.37 on Thursday. The stock has a market cap of $2.01 trillion, a P/E ratio of 20.54, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a 50-day moving average of $158.21 and a two-hundred day moving average of $175.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the previous year, the business earned $1.89 EPS. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.51%. Alphabet’s dividend payout ratio is currently 9.36%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,824 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total value of $529,302.32. Following the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,815,948.32. This trade represents a 15.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 179,324 shares of company stock valued at $30,153,353 over the last ninety days. Corporate insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $178.00 price target on shares of Alphabet in a research report on Friday, April 25th. Sanford C. Bernstein increased their target price on Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a research note on Friday, April 25th. Stifel Nicolaus decreased their price objective on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Citigroup lifted their price target on Alphabet from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. Finally, Truist Financial dropped their price target on Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $199.75.

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.