Long Walk Management LP Makes New $20.10 Million Investment in Alphabet Inc. (NASDAQ:GOOGL)

Long Walk Management LP acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 104,500 shares of the information services provider’s stock, valued at approximately $20,101,000. Alphabet comprises 7.3% of Long Walk Management LP’s holdings, making the stock its 7th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Compass Planning Associates Inc bought a new stake in Alphabet in the 4th quarter valued at $30,000. LMR Partners LLP purchased a new position in shares of Alphabet during the third quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the fourth quarter worth about $39,000. Finally, PayPay Securities Corp lifted its position in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GOOGL shares. Citigroup cut their price target on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Bank of America reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Monday, December 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. KeyCorp decreased their target price on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $210.59.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 29,066 shares of Alphabet stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares of the company’s stock, valued at approximately $50,376,238.74. The trade was a 9.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,812 shares of company stock worth $19,336,979. Insiders own 11.55% of the company’s stock.

Alphabet Trading Down 1.7 %

NASDAQ:GOOGL opened at $162.24 on Friday. The stock has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 20.15, a PEG ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 52 week low of $147.22 and a 52 week high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $180.49 and a 200 day moving average of $176.68.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

About Alphabet

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.