L1 Capital International Pty Ltd Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

L1 Capital International Pty Ltd bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, Holdings Channel.com reports. The fund bought 51,400 shares of the information services provider’s stock, valued at approximately $7,244,000. Alphabet accounts for 3.8% of L1 Capital International Pty Ltd’s holdings, making the stock its 15th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Partnership Wealth Management LLC acquired a new position in Alphabet during the 4th quarter worth approximately $26,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $32,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG stock traded up $0.27 on Tuesday, reaching $176.90. The company had a trading volume of 6,352,191 shares, compared to its average volume of 21,374,746. Alphabet Inc. has a 1 year low of $115.83 and a 1 year high of $179.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company’s fifty day moving average is $167.76 and its 200 day moving average is $151.37. The company has a market cap of $2.19 trillion, a P/E ratio of 26.97, a PEG ratio of 1.31 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same quarter in the prior year, the company earned $1.17 EPS. Alphabet’s revenue was up 15.4% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 7.69 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Oppenheimer boosted their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley reissued an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Finally, Stifel Nicolaus boosted their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $165.67.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the sale, the chief executive officer now owns 2,310,191 shares in the company, valued at $343,710,216.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the transaction, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The disclosure for this sale can be found here. Insiders have sold 157,458 shares of company stock worth $25,538,973 over the last quarter. 12.99% of the stock is currently owned by 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.