Privium Fund Management UK Ltd Acquires New Stake in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Privium Fund Management UK Ltd has acquired a new stake in Alphabet Inc., purchasing 39,800 shares valued at approximately $6.25 million, which now constitutes about 4.8% of its portfolio.
• Insiders have sold a total of 273,219 shares of Alphabet stock in the past ninety days, with John Kent Walker's sale representing a 35.65% decrease in his ownership.
• Alphabet recently declared a quarterly dividend of $0.21 per share, set to be paid on September 15, reflecting a 0.4% yield and an annualized payout ratio of 8.95%.

Privium Fund Management UK Ltd acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 39,800 shares of the information services provider's stock, valued at approximately $6,250,000. Alphabet comprises about 4.8% of Privium Fund Management UK Ltd's holdings, making the stock its 6th largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mystic Asset Management Inc. boosted its position in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after purchasing an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co boosted its position in Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after purchasing an additional 80 shares in the last quarter. Rockbridge Capital Management LLC purchased a new stake in Alphabet during the fourth quarter worth $3,119,000. Cypress Capital LLC boosted its position in Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after purchasing an additional 563 shares in the last quarter. Finally, Optivise Advisory Services LLC boosted its position in Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after purchasing an additional 403 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director owned 240,400 shares of the company's stock, valued at $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,219 shares of company stock valued at $49,474,273. Insiders own 11.64% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $201.42 on Friday. The firm has a market capitalization of $2.44 trillion, a PE ratio of 21.45, a P/E/G ratio of 1.36 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a 50-day moving average of $180.89 and a two-hundred day moving average of $172.98. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio is currently 8.95%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GOOGL shares. Truist Financial reiterated a "buy" rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, July 2nd. Morgan Stanley boosted their target price on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Wells Fargo & Company boosted their target price on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a research report on Friday, June 27th. Finally, Oppenheimer boosted their target price on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $211.53.

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.

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