Point72 Asia Singapore Pte. Ltd. Buys Shares of 132,179 Alphabet Inc. (NASDAQ:GOOG)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 132,179 shares of the information services provider’s stock, valued at approximately $22,099,000. Alphabet accounts for 4.2% of Point72 Asia Singapore Pte. Ltd.’s investment portfolio, making the stock its 3rd biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Abich Financial Wealth Management LLC increased its stake in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in Alphabet during the 2nd quarter worth approximately $37,000. HWG Holdings LP acquired a new stake in Alphabet during the 2nd quarter worth approximately $40,000. Sanctuary Wealth Management L.L.C. boosted its position in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares during the period. Finally, Slocum Gordon & Co LLP acquired a new position in shares of Alphabet in the second quarter worth $44,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Alphabet stock opened at $170.49 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50 day simple moving average of $169.98 and a 200-day simple moving average of $171.84. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31. The stock has a market capitalization of $2.09 trillion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 1.19 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS 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 the consensus estimate of $86.39 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GOOG. UBS Group increased their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Jefferies Financial Group increased their target price on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Scotiabank assumed coverage on Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,795 shares of company stock worth $34,673,866. Company insiders own 12.99% of the company’s stock.

Alphabet Company 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.