Sycomore Asset Management Buys 22,189 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sycomore Asset Management grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 51.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,183 shares of the information services provider’s stock after purchasing an additional 22,189 shares during the period. Alphabet makes up approximately 2.0% of Sycomore Asset Management’s holdings, making the stock its 12th largest holding. Sycomore Asset Management’s holdings in Alphabet were worth $9,150,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Alphabet by 2.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 271,902 shares of the information services provider’s stock worth $37,982,000 after acquiring an additional 6,698 shares in the last quarter. Atria Wealth Solutions Inc. boosted its holdings in shares of Alphabet by 8.4% in the 4th quarter. Atria Wealth Solutions Inc. now owns 438,213 shares of the information services provider’s stock worth $61,214,000 after acquiring an additional 33,813 shares in the last quarter. Magnolia Capital Advisors LLC boosted its holdings in shares of Alphabet by 12.1% in the 4th quarter. Magnolia Capital Advisors LLC now owns 17,864 shares of the information services provider’s stock worth $2,706,000 after acquiring an additional 1,930 shares in the last quarter. Morling Financial Advisors LLC boosted its holdings in shares of Alphabet by 16.2% in the 4th quarter. Morling Financial Advisors LLC now owns 891 shares of the information services provider’s stock worth $124,000 after acquiring an additional 124 shares in the last quarter. Finally, Milestone Resources Group Ltd boosted its holdings in shares of Alphabet by 10.3% in the 4th quarter. Milestone Resources Group Ltd now owns 1,478,213 shares of the information services provider’s stock worth $206,492,000 after acquiring an additional 137,860 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOGL stock opened at $166.62 on Friday. The stock has a 50-day moving average price of $149.67 and a two-hundred day moving average price of $142.12. Alphabet Inc. has a 1 year low of $103.97 and a 1 year high of $174.71. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.07 trillion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the prior year, the business posted $1.17 EPS. Equities analysts forecast that Alphabet Inc. will post 7.54 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%.

Analyst Ratings Changes

Several research analysts have recently commented on GOOGL shares. Sanford C. Bernstein boosted their target price on Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Citigroup upped their price objective on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Evercore ISI upped their price objective on Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Raymond James upped their price objective on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Barclays upped their price objective on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.60.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,280,511 shares in the company, valued at $380,389,234.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders sold a total of 275,129 shares of company stock worth $40,382,765 in the last three months. Insiders own 0.88% of the company’s stock.

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.