SIH Partners LLLP Makes New $684,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

SIH Partners LLLP acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 3,611 shares of the information services provider’s stock, valued at approximately $684,000.

A number of other hedge funds have also modified their holdings of the business. Principal Financial Group Inc. grew its position in Alphabet by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock valued at $1,871,384,000 after buying an additional 337,031 shares during the last quarter. Passumpsic Savings Bank increased its stake in shares of Alphabet by 38.0% during the third quarter. Passumpsic Savings Bank now owns 4,700 shares of the information services provider’s stock worth $779,000 after acquiring an additional 1,294 shares during the period. SOA Wealth Advisors LLC. raised its holdings in Alphabet by 0.5% during the third quarter. SOA Wealth Advisors LLC. now owns 37,379 shares of the information services provider’s stock worth $6,199,000 after purchasing an additional 202 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in Alphabet by 6.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,306 shares of the information services provider’s stock valued at $382,000 after purchasing an additional 130 shares during the period. Finally, Te Ahumairangi Investment Management Ltd boosted its holdings in Alphabet by 19.2% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 137,669 shares of the information services provider’s stock valued at $22,703,000 after purchasing an additional 22,169 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 2.6 %

NASDAQ GOOGL opened at $151.47 on Wednesday. The firm has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.34 and a beta of 1.03. 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 Inc. has a one year low of $140.53 and a one year high of $207.05. The company’s 50 day moving average price is $163.72 and its 200 day moving average price is $175.61.

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

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,685,196 shares of the company’s stock, valued at approximately $419,320,207.36. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,163 shares of company stock worth $25,361,647. 11.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Roth Mkm restated a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. Rosenblatt Securities restated a “neutral” rating and set a $205.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Truist Financial cut their price target on shares of Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, JMP Securities restated a “market perform” rating on shares of Alphabet in a research report on Thursday, April 10th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.74.

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.