Hudson Edge Investment Partners Inc. Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Hudson Edge Investment Partners Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,928 shares of the information services provider’s stock, valued at approximately $1,387,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RWQ Financial Management Services Inc. boosted its holdings in Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 4,664 shares in the last quarter. Picton Mahoney Asset Management boosted its holdings in Alphabet by 55.4% in the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after purchasing an additional 76,410 shares in the last quarter. Robbins Farley boosted its holdings in Alphabet by 0.8% in the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after purchasing an additional 118 shares in the last quarter. Quantum Financial Advisors LLC boosted its holdings in Alphabet by 8.0% in the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after purchasing an additional 564 shares in the last quarter. Finally, Colton Groome Financial Advisors LLC boosted its holdings in Alphabet by 3.8% in the fourth quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock valued at $377,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.9 %

Shares of GOOGL opened at $175.41 on Thursday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average is $164.82 and its two-hundred day moving average is $149.09. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $178.77. The firm has a market capitalization of $2.17 trillion, a P/E ratio of 26.90, a PEG ratio of 1.31 and a beta of 1.01.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same period in the prior year, the business posted $1.17 earnings per share. On average, research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%.

Analyst Ratings Changes

GOOGL has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 price target (up from $160.00) on shares of Alphabet in a report on Friday, April 26th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $215.00 price target on shares of Alphabet in a report on Wednesday, May 15th. Oppenheimer boosted their price objective on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. TD Cowen boosted their price objective on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Loop Capital boosted their price objective on Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $191.57.

Get Our Latest Report on Alphabet

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total value of $3,347,550.00. Following the sale, the chief executive officer now directly owns 2,310,191 shares in the company, valued at $343,710,216.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the transaction, the chief executive officer now directly owns 2,310,191 shares in the company, valued at approximately $343,710,216.98. The disclosure for this sale can be found here. Insiders have sold 205,835 shares of company stock worth $32,177,952 over the last ninety days. 11.55% of the stock is currently owned by insiders.

Alphabet Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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