Point72 Europe London LLP Buys New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Point72 Europe London LLP purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 84,100 shares of the information services provider’s stock, valued at approximately $13,948,000. Alphabet accounts for about 0.9% of Point72 Europe London LLP’s investment portfolio, making the stock its 28th largest position.

A number of other hedge funds also recently made changes to their positions in the stock. Christopher J. Hasenberg Inc lifted its position in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. LMR Partners LLP acquired a new stake in shares of Alphabet in the third quarter worth $32,000. Kings Path Partners LLC purchased a new position in shares of Alphabet in the 2nd quarter valued at $36,000. Denver PWM LLC acquired a new position in shares of Alphabet during the 2nd quarter valued at $41,000. Finally, Quarry LP purchased a new stake in Alphabet during the 2nd quarter worth $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of several research reports. KeyCorp raised their price objective on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Pivotal Research increased their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Roth Mkm boosted their price target on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Truist Financial upped their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley lifted their price objective on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $206.03.

Alphabet Stock Up 5.5 %

Alphabet stock opened at $195.40 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a 50-day simple moving average of $170.07 and a 200-day simple moving average of $170.28. The firm has a market capitalization of $2.39 trillion, a P/E ratio of 25.92, a P/E/G ratio of 1.24 and a beta of 1.01. Alphabet Inc. has a one year low of $129.68 and a one year high of $195.61.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the business posted $1.55 EPS. As a group, equities analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 16,802 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the sale, the insider now directly owns 43,999 shares in the company, valued at approximately $7,280,514.53. This trade represents a 27.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,123 shares of company stock worth $34,121,676. Corporate insiders own 11.55% of the company’s stock.

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.