Polymer Capital Management HK LTD Buys New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Polymer Capital Management HK LTD purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, HoldingsChannel reports. The firm purchased 7,700 shares of the information services provider’s stock, valued at approximately $1,458,000.

A number of other institutional investors have also bought and sold shares of GOOGL. Compass Planning Associates Inc purchased a new stake in Alphabet in the 4th quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at $39,000. PayPay Securities Corp lifted its stake in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the last quarter. Finally, Prudent Man Investment Management Inc. purchased a new position in Alphabet during the 4th quarter valued at $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Jefferies Financial Group decreased their price target on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 31st. DA Davidson boosted their price objective on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. DZ Bank downgraded Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target for the company. in a report on Thursday, February 6th. Wolfe Research boosted their price objective on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $206.51.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $157.14 on Friday. The firm has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 19.52, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company’s 50-day moving average is $168.52 and its two-hundred day moving average is $176.22.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet’s dividend payout ratio is presently 9.94%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This trade represents a 4.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,797 shares of company stock worth $21,089,470 in the last ninety days. 11.55% of the stock is owned by corporate insiders.

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.