GAMMA Investing LLC Invests $4.88 Million in Alphabet Inc. (NASDAQ:GOOGL)

GAMMA Investing LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 34,819 shares of the information services provider’s stock, valued at approximately $4,878,000. Alphabet accounts for about 1.3% of GAMMA Investing LLC’s portfolio, making the stock its 9th biggest holding.

Several other hedge funds also recently made changes to their positions in the business. Aire Advisors LLC lifted its stake in Alphabet by 0.6% in the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after acquiring an additional 68 shares during the last quarter. Defined Wealth Management LLC increased its position in Alphabet by 2.9% during the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock worth $354,000 after acquiring an additional 71 shares during the period. WealthCare Investment Partners LLC increased its position in Alphabet by 2.1% during the fourth quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock worth $482,000 after acquiring an additional 71 shares during the period. Peoples Financial Services CORP. increased its position in Alphabet by 0.4% during the fourth quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider’s stock worth $2,331,000 after acquiring an additional 72 shares during the period. Finally, RAM Investment Partners LLC increased its position in Alphabet by 1.0% during the fourth quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider’s stock worth $1,055,000 after acquiring an additional 73 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the sale, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The disclosure for this sale can be found here. Insiders have sold 275,129 shares of company stock worth $40,382,765 in the last ninety days. Company insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $163.86 on Thursday. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 1.29 and a beta of 1.05. The firm’s 50 day simple moving average is $149.22 and its 200 day simple moving average is $141.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. Alphabet Inc. has a fifty-two week low of $103.71 and a fifty-two week high of $174.71.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period last year, the company posted $1.17 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.49 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GOOGL shares. Roth Mkm boosted their target price on shares of Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 target price (up previously from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Redburn Atlantic upped their target price on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Wolfe Research upped their target price on shares of Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Mizuho upped their target price on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $190.60.

Alphabet 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.