GAMMA Investing LLC Has $13.62 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

GAMMA Investing LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 25.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,136 shares of the information services provider’s stock after purchasing an additional 16,853 shares during the period. Alphabet accounts for 1.4% of GAMMA Investing LLC’s portfolio, making the stock its 8th largest holding. GAMMA Investing LLC’s holdings in Alphabet were worth $13,622,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares in the last quarter. Tributary Capital Management LLC purchased a new stake in Alphabet in the 1st quarter worth $30,000. Kings Path Partners LLC bought a new position in shares of Alphabet during the 2nd quarter valued at about $36,000. Denver PWM LLC purchased a new position in shares of Alphabet during the second quarter valued at about $41,000. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.7 %

NASDAQ:GOOGL opened at $163.24 on Friday. The firm has a 50-day simple moving average of $161.37 and a 200-day simple moving average of $167.75. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The firm has a market cap of $2.02 trillion, a P/E ratio of 25.04, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same period in the previous year, the company posted $1.44 EPS. Equities analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now directly owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 216,092 shares of company stock valued at $35,644,136. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOOGL. Tigress Financial raised their price target on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. Royal Bank of Canada raised their target price on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Wolfe Research began coverage on shares of Alphabet in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target on the stock. Mizuho increased their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Roth Mkm restated a “buy” rating and issued a $206.00 target price on shares of Alphabet in a report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.95.

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.