Alphabet Inc. (NASDAQ:GOOGL) is GAMMA Investing LLC’s 8th Largest Position

GAMMA Investing LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 93,970 shares of the information services provider’s stock after purchasing an additional 11,834 shares during the quarter. Alphabet makes up about 1.5% of GAMMA Investing LLC’s holdings, making the stock its 8th biggest holding. GAMMA Investing LLC’s holdings in Alphabet were worth $17,789,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Denver PWM LLC lifted its holdings in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after buying an additional 57 shares in the last quarter. First PREMIER Bank increased its position in shares of Alphabet by 3.8% during the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after acquiring an additional 61 shares during the period. Cutler Investment Counsel LLC raised its stake in shares of Alphabet by 1.7% during the third quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock valued at $607,000 after acquiring an additional 61 shares in the last quarter. MKT Advisors LLC boosted its holdings in shares of Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after purchasing an additional 62 shares during the period. Finally, Mendota Financial Group LLC grew its stake in Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after purchasing an additional 64 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total transaction of $473,929.82. Following the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,406,343.27. This represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 154,519 shares of company stock worth $27,734,316 over the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $189.43 on Friday. The firm’s fifty day simple moving average is $179.17 and its 200-day simple moving average is $172.28. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.32 trillion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42.

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

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet’s dividend payout ratio is currently 10.61%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GOOGL shares. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Truist Financial upped their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Tigress Financial boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Pivotal Research lifted their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $206.69.

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.