LMR Partners LLP Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

LMR Partners LLP bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the third quarter, HoldingsChannel reports. The fund bought 191 shares of the information services provider’s stock, valued at approximately $32,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. International Assets Investment Management LLC increased its stake in shares of Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after acquiring an additional 18,700,111 shares during the period. SG Americas Securities LLC raised its holdings in shares of Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after acquiring an additional 9,135,056 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Alphabet by 116.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after buying an additional 4,662,809 shares in the last quarter. Wulff Hansen & CO. lifted its stake in shares of Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after purchasing an additional 4,410,811 shares during the period. Finally, PineStone Asset Management Inc. lifted its holdings in shares of Alphabet by 143.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after acquiring an additional 4,170,229 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GOOGL shares. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Wedbush reissued an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. Truist Financial raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Roth Mkm upped their price target on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Bank of America raised their target price on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the sale, the director now directly owns 28,524 shares in the company, valued at approximately $4,385,565. This represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock worth $34,673,866 over the last 90 days. Insiders own 11.55% of the company’s stock.

Alphabet Stock Down 0.2 %

GOOGL stock opened at $168.95 on Monday. The firm has a market cap of $2.07 trillion, a PE ratio of 22.41, a PEG ratio of 1.20 and a beta of 1.03. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The company has a fifty day simple moving average of $168.47 and a 200 day simple moving average of $170.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the firm earned $1.55 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s payout ratio is currently 10.61%.

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.