Ninepoint Partners LP Grows Position in Alphabet Inc. (NASDAQ:GOOG)
by Michael Walen · The Markets DailyNinepoint Partners LP raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 632.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,242 shares of the information services provider’s stock after purchasing an additional 4,526 shares during the quarter. Ninepoint Partners LP’s holdings in Alphabet were worth $998,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB lifted its holdings in shares of Alphabet by 0.6% in the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock worth $1,394,181,000 after buying an additional 51,226 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Alphabet by 2.5% in the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after buying an additional 264,962 shares in the last quarter. Seelaus Asset Management LLC lifted its holdings in shares of Alphabet by 48.4% in the third quarter. Seelaus Asset Management LLC now owns 9,194 shares of the information services provider’s stock worth $1,537,000 after buying an additional 3,000 shares in the last quarter. Evolution Wealth Advisors LLC lifted its holdings in shares of Alphabet by 1.3% in the third quarter. Evolution Wealth Advisors LLC now owns 57,865 shares of the information services provider’s stock worth $9,673,000 after buying an additional 760 shares in the last quarter. Finally, RIA Advisory Group LLC purchased a new stake in shares of Alphabet in the third quarter worth about $323,000. 27.26% of the stock is owned by hedge funds and other institutional investors.
Alphabet Stock Performance
NASDAQ:GOOG opened at $167.62 on Friday. The firm has a market cap of $2.04 trillion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a fifty-two week low of $141.13 and a fifty-two week high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The business has a 50 day moving average price of $187.41 and a 200-day moving average price of $178.00.
Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings data 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 research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is 9.94%.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Oppenheimer increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush restated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $209.13.
Read Our Latest Stock Report on GOOG
Insider Buying and Selling
In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,882 shares of company stock valued at $17,934,130 over the last quarter. 12.99% of the stock is owned by company insiders.
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.
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