11 Capital Partners LP Buys New Shares in Alphabet Inc. (NASDAQ:GOOGL)

11 Capital Partners LP purchased a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 44,900 shares of the information services provider's stock, valued at approximately $8,500,000. Alphabet comprises 3.4% of 11 Capital Partners LP's investment portfolio, making the stock its 13th largest position.

A number of other hedge funds also recently added to or reduced their stakes in the business. Compass Planning Associates Inc purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $30,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Alphabet by 518.8% in the 4th 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 during the period. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the 4th quarter worth approximately $39,000. PayPay Securities Corp raised its stake in shares of Alphabet by 36.1% during the 4th 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. Finally, Prudent Man Investment Management Inc. purchased a new position in Alphabet in the 4th quarter valued at approximately $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GOOGL shares. DA Davidson cut their price objective on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Tigress Financial lifted their price objective on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a report on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. KeyCorp upped their target price on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Sanford C. Bernstein upped their price target on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $199.46.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded down $1.36 during trading hours on Wednesday, reaching $158.80. The stock had a trading volume of 34,484,953 shares, compared to its average volume of 28,226,752. The firm has a market cap of $1.94 trillion, a price-to-earnings ratio of 19.73, a PEG ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The firm has a 50-day moving average of $160.78 and a 200-day moving average of $175.37.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period last year, the firm earned $1.89 EPS. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio is currently 9.36%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O'toole sold 1,340 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 2,685,196 shares in the company, valued at $419,320,207.36. The trade was a 1.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 148,163 shares of company stock worth $25,361,647. Corporate insiders own 11.55% of the company's stock.

Alphabet Company 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.