Absolute Capital Management LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Absolute Capital Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 14.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,096 shares of the information services provider’s stock after purchasing an additional 258 shares during the period. Absolute Capital Management LLC’s holdings in Alphabet were worth $401,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Compass Planning Associates Inc purchased a new position in shares of Alphabet in the 4th quarter worth approximately $30,000. LMR Partners LLP purchased a new position in Alphabet during the third quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. increased its position in 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 acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at $39,000. Finally, PayPay Securities Corp lifted its holdings in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent analyst reports. Piper Sandler reduced their price objective on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Jefferies Financial Group decreased their price target on Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday. Wolfe Research upped their price objective on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Rosenblatt Securities reiterated a “neutral” rating and set a $205.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Robert W. Baird reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research note on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $209.49.

Alphabet Price Performance

NASDAQ:GOOGL opened at $154.64 on Tuesday. The firm’s fifty day moving average is $178.83 and its two-hundred day moving average is $177.10. The firm has a market cap of $1.89 trillion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a one year low of $147.22 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.52%. Alphabet’s dividend payout ratio is presently 9.94%.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 272,466 shares in the company, valued at $50,376,238.74. This trade represents a 9.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, 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 quarter, insiders sold 87,992 shares of company stock worth $16,093,773. Company insiders own 11.55% of the company’s stock.

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.