Bearing Point Capital LLC Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Bearing Point Capital LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 35,211 shares of the information services provider's stock, valued at approximately $6,665,000. Alphabet accounts for 1.4% of Bearing Point Capital LLC's investment portfolio, making the stock its 22nd largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Benjamin Edwards Inc. grew its stake in Alphabet by 6.3% during the 4th quarter. Benjamin Edwards Inc. now owns 163,726 shares of the information services provider's stock valued at $31,005,000 after acquiring an additional 9,666 shares in the last quarter. BLI Banque de Luxembourg Investments purchased a new position in Alphabet during the fourth quarter valued at approximately $125,593,000. BNP Paribas increased its stake in Alphabet by 34.6% in the 4th quarter. BNP Paribas now owns 207,565 shares of the information services provider's stock valued at $39,292,000 after buying an additional 53,377 shares during the period. Algert Global LLC lifted its position in Alphabet by 14.1% in the 4th quarter. Algert Global LLC now owns 33,559 shares of the information services provider's stock worth $6,353,000 after buying an additional 4,156 shares in the last quarter. Finally, Alteri Wealth LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at $5,092,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the sale, the director now owns 272,466 shares of the company's stock, valued at $50,376,238.74. This represents a 9.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 148,164 shares of company stock worth $25,357,390. Corporate insiders own 11.55% of the company's stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $164.03 on Friday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $1.99 trillion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The firm's 50-day simple moving average is $160.19 and its 200-day simple moving average is $175.41.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 32.49% and a net margin of 28.60%. During the same period in the prior year, the company posted $1.89 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. Cantor Fitzgerald dropped their price target on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler raised their price target on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Royal Bank of Canada reiterated an "outperform" rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, April 23rd. Morgan Stanley dropped their price objective on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Rosenblatt Securities decreased their target price on shares of Alphabet from $205.00 to $189.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $199.46.

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.

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