Octahedron Capital Management L.P. Has $17.92 Million Stake in Alphabet Inc. $GOOGL

Octahedron Capital Management L.P. grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 35.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,700 shares of the information services provider’s stock after purchasing an additional 26,700 shares during the quarter. Alphabet makes up approximately 13.5% of Octahedron Capital Management L.P.’s portfolio, making the stock its 2nd largest holding. Octahedron Capital Management L.P.’s holdings in Alphabet were worth $17,923,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Bridgeway Capital Management LLC grew its holdings in Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after buying an additional 13,371 shares during the last quarter. Alaethes Wealth LLC boosted its position in shares of Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after acquiring an additional 84 shares during the period. Moment Partners LLC grew its stake in shares of Alphabet by 9.3% in the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after acquiring an additional 504 shares during the last quarter. Welch Group LLC grew its stake in shares of Alphabet by 4.0% in the second quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after acquiring an additional 2,467 shares during the last quarter. Finally, Elgethun Capital Management increased its position in Alphabet by 4.8% during the first quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider’s stock worth $1,312,000 after acquiring an additional 390 shares during the period. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, November 7th. BNP Paribas Exane began coverage on Alphabet in a research report on Monday, November 24th. They issued an “outperform” rating and a $355.00 price objective for the company. CIBC boosted their price objective on Alphabet to $315.00 in a research report on Monday, October 20th. Citizens Jmp upped their target price on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Finally, HSBC lifted their price target on shares of Alphabet from $295.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $307.84.

Alphabet Stock Performance

Alphabet stock opened at $320.02 on Monday. The firm has a market capitalization of $3.86 trillion, a P/E ratio of 31.56, a P/E/G ratio of 1.86 and a beta of 1.05. The stock has a fifty day moving average price of $269.25 and a two-hundred day moving average price of $219.56. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $328.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is 8.28%.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 225,072 shares of company stock valued at $58,074,027 in the last three months. 11.64% of the stock is owned by corporate insiders.

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.