Grafton Street Partners Fund LP Acquires New Stake in Alphabet Inc. (NASDAQ:GOOGL)

Grafton Street Partners Fund LP bought a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 102,973 shares of the information services provider's stock, valued at approximately $14,384,000. Alphabet comprises 14.6% of Grafton Street Partners Fund LP's investment portfolio, making the stock its largest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. Meritage Group LP raised its holdings in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider's stock worth $40,000 after purchasing an additional 276 shares in the last quarter. Armor Investment Advisors LLC lifted its position in Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider's stock valued at $47,000 after buying an additional 80 shares during the period. IAG Wealth Partners LLC boosted its holdings in shares of Alphabet by 55.9% during the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider's stock valued at $48,000 after buying an additional 123 shares in the last quarter. Finally, Valued Wealth Advisors LLC purchased a new stake in shares of Alphabet in the 4th quarter worth about $55,000. Institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total value of $3,897,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,258,011 shares of the company's stock, valued at approximately $391,132,665.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director John L. Hennessy sold 300 shares of the business's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the transaction, the director now owns 9,291 shares of the company's stock, valued at approximately $1,296,187.41. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the completion of the transaction, the chief executive officer now owns 2,258,011 shares in the company, valued at $391,132,665.42. The disclosure for this sale can be found here. Insiders sold a total of 205,935 shares of company stock worth $31,178,987 in the last 90 days. Insiders own 11.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GOOGL shares. Argus boosted their price objective on shares of Alphabet from $170.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, April 30th. Rosenblatt Securities raised their price objective on Alphabet from $172.00 to $182.00 and gave the stock a "buy" rating in a research note on Friday, April 26th. Royal Bank of Canada raised their target price on shares of Alphabet from $155.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 26th. Wells Fargo & Company raised their price objective on shares of Alphabet from $141.00 to $168.00 and gave the company an "equal weight" rating in a research report on Friday, April 26th. Finally, KeyCorp increased their price target on Alphabet from $165.00 to $175.00 and gave the stock an "overweight" rating in a research note on Monday, April 22nd. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $190.60.

Alphabet Stock Performance

Shares of Alphabet stock traded down $1.47 on Wednesday, reaching $176.38. 17,843,554 shares of the stock were exchanged, compared to its average volume of 29,920,602. The business has a 50 day moving average price of $158.79 and a two-hundred day moving average price of $145.98. The firm has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 26.92, a PEG ratio of 1.35 and a beta of 1.02. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $178.77. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the prior year, the company earned $1.17 earnings per share. Analysts anticipate that Alphabet Inc. will post 7.61 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, June 10th.

Alphabet 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.