Anomaly Capital Management LP Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

Anomaly Capital Management LP boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 34.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 516,837 shares of the information services provider’s stock after purchasing an additional 132,490 shares during the quarter. Alphabet makes up 2.9% of Anomaly Capital Management LP’s holdings, making the stock its 13th largest position. Anomaly Capital Management LP’s holdings in Alphabet were worth $97,837,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Compass Planning Associates Inc purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in 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 worth $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth $39,000. PayPay Securities Corp raised its position in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares during the last quarter. Finally, Denver PWM LLC lifted its stake in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after buying an additional 57 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOGL opened at $151.47 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm’s fifty day simple moving average is $163.72 and its 200-day simple moving average is $175.61. The firm has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted 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 return on equity of 32.49% and a net margin of 28.60%. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.53%. Alphabet’s dividend payout ratio is currently 9.94%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,690 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the completion of the sale, the insider now owns 43,111 shares in the company, valued at approximately $7,997,521.61. This represents a 29.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,163 shares of company stock valued at $25,361,647. 11.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on GOOGL shares. Rosenblatt Securities reiterated a “neutral” rating and issued a $205.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. JPMorgan Chase & Co. cut their price target on Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Piper Sandler lowered their price objective on Alphabet from $208.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Morgan Stanley cut their target price on Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, DA Davidson dropped their price objective on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Ten research 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.74.

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.