Napean Trading & Investment Co Singapore PTE Ltd Acquires 22,339 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Napean Trading & Investment Co Singapore PTE Ltd lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 19.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 135,878 shares of the information services provider’s stock after buying an additional 22,339 shares during the quarter. Alphabet makes up 5.0% of Napean Trading & Investment Co Singapore PTE Ltd’s investment portfolio, making the stock its 3rd largest holding. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Alphabet were worth $20,508,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prairie Sky Financial Group LLC increased its holdings in Alphabet by 44.0% during the 4th quarter. Prairie Sky Financial Group LLC now owns 2,851 shares of the information services provider’s stock worth $398,000 after purchasing an additional 871 shares during the period. Precedent Wealth Partners LLC purchased a new stake in Alphabet during the 4th quarter worth about $482,000. Burns J W & Co. Inc. NY increased its holdings in Alphabet by 4.6% during the 4th quarter. Burns J W & Co. Inc. NY now owns 23,141 shares of the information services provider’s stock worth $3,233,000 after purchasing an additional 1,011 shares during the period. Hill Investment Group Partners LLC purchased a new stake in Alphabet during the 4th quarter worth about $523,000. Finally, Symphony Financial Ltd. Co. increased its holdings in shares of Alphabet by 1,585.6% in the 4th quarter. Symphony Financial Ltd. Co. now owns 29,836 shares of the information services provider’s stock valued at $4,222,000 after acquiring an additional 28,066 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,808 shares of company stock worth $17,731,218. 11.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GOOGL shares. Sanford C. Bernstein increased their price objective on Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, April 26th. UBS Group increased their price objective on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. BMO Capital Markets reiterated an “outperform” rating and issued a $222.00 price objective (up previously from $215.00) on shares of Alphabet in a report on Wednesday, July 17th. Guggenheim increased their price objective on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Argus upped their target price on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Six research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $203.74.

View Our Latest Stock Analysis on GOOGL

Alphabet Price Performance

GOOGL stock opened at $170.29 on Wednesday. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The stock’s fifty day simple moving average is $178.74 and its 200-day simple moving average is $161.00. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 1.27 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (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 business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter last year, the firm earned $1.44 earnings per share. Equities research analysts expect that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 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 of this dividend is Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

About Alphabet

(Free Report)

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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