Kintayl Capital LP Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Kintayl Capital LP bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,545 shares of the information services provider's stock, valued at approximately $394,000.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Alphabet in the fourth quarter worth about $24,383,677,000. FMR LLC grew its position in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after buying an additional 15,968,487 shares in the last quarter. Northern Trust Corp grew its holdings in Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after buying an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in shares of Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after acquiring an additional 10,037,685 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 400 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the transaction, the director directly owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. The trade was a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 249,409 shares of company stock valued at $43,523,710. Corporate insiders own 11.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GOOGL shares. Wells Fargo & Company upped their price target on shares of Alphabet from $177.00 to $184.00 and gave the company an "equal weight" rating in a research note on Thursday. Cantor Fitzgerald lifted their price target on shares of Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research note on Thursday. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a report on Friday, June 27th. Stifel Nicolaus boosted their target price on shares of Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Jefferies Financial Group dropped their target price on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $211.32.

Alphabet Stock Performance

Shares of GOOGL stock traded up $1.94 during mid-day trading on Thursday, reaching $192.17. The stock had a trading volume of 74,740,490 shares, compared to its average volume of 39,272,972. The business's fifty day moving average is $175.23 and its 200-day moving average is $173.10. The firm has a market cap of $2.33 trillion, a price-to-earnings ratio of 20.47, a PEG ratio of 1.33 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 35.22% and a net margin of 31.12%. During the same period last year, the company earned $1.89 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

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.