1248 Management LLC Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

1248 Management LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 95,834 shares of the information services provider's stock, valued at approximately $18,141,000. Alphabet comprises 7.8% of 1248 Management LLC's investment portfolio, making the stock its 3rd largest holding.

Several other large investors also recently modified their holdings of GOOGL. Compass Planning Associates Inc bought a new position in Alphabet in the 4th quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of Alphabet by 518.8% in 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 period. Fiduciary Advisors Inc. purchased a new position in Alphabet during the fourth quarter valued at approximately $39,000. PayPay Securities Corp increased its holdings in 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 acquiring an additional 65 shares during the period. Finally, Navigoe LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $51,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GOOGL. Truist Financial decreased their price target on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Morgan Stanley decreased their price objective on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Sanford C. Bernstein lifted their price target on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Cantor Fitzgerald reduced their target price on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Finally, Rosenblatt Securities decreased their price target on Alphabet from $205.00 to $189.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.46.

Alphabet Trading Up 0.1 %

NASDAQ GOOGL traded up $0.18 during trading hours on Monday, hitting $164.21. 21,281,744 shares of the company's stock were exchanged, compared to its average volume of 28,166,186. The business's 50 day moving average is $160.19 and its 200-day moving average is $175.50. 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 12-month low of $140.53 and a 12-month high of $207.05. The firm has a market capitalization of $1.99 trillion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

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

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.51%. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares of the company's stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 2,824 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total value of $529,302.32. Following the completion of the sale, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,815,948.32. This represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,824 shares of company stock worth $25,086,603. 11.55% of the stock is currently owned by corporate insiders.

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.