BTG Pactual Asset Management US LLC Has $265,000 Stake in Alphabet Inc. $GOOGL

BTG Pactual Asset Management US LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 59.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,503 shares of the information services provider’s stock after selling 2,210 shares during the quarter. BTG Pactual Asset Management US LLC’s holdings in Alphabet were worth $265,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Bridgeway Capital Management LLC grew its position in Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after purchasing an additional 13,371 shares during the period. Alaethes Wealth LLC lifted its stake in shares of Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after buying an additional 84 shares in the last quarter. Moment Partners LLC grew its holdings in shares of Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after buying an additional 504 shares during the last quarter. Welch Group LLC grew its holdings in shares of Alphabet by 4.0% during the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock valued at $11,325,000 after buying an additional 2,467 shares during the last quarter. Finally, Brooktree Capital Management bought a new stake in shares of Alphabet during the second quarter worth about $352,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the sale, the chief executive officer owned 2,402,119 shares in the company, valued at $584,699,785.79. This trade represents a 1.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 226,128 shares of company stock valued at $61,326,372 in the last three months. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Down 1.0%

Shares of NASDAQ:GOOGL opened at $309.29 on Friday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. The company has a market capitalization of $3.73 trillion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 1.81 and a beta of 1.07. The business has a fifty day moving average price of $283.14 and a two-hundred day moving average price of $229.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75.

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

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders 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 yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent research reports. Rosenblatt Securities raised their price target on shares of Alphabet from $224.00 to $279.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Truist Financial set a $350.00 price objective on Alphabet and gave the stock a “buy” rating in a research note on Friday, December 5th. CICC Research raised their target price on Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Morgan Stanley upped their price target on Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Citic Securities increased their price target on Alphabet from $230.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Four research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $314.22.

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.