Crake Asset Management LLP Buys 645,000 Shares of Alphabet Inc. (NASDAQ:GOOG)

Crake Asset Management LLP raised its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 620.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 749,000 shares of the information services provider's stock after acquiring an additional 645,000 shares during the quarter. Alphabet makes up about 15.4% of Crake Asset Management LLP's holdings, making the stock its 3rd biggest holding. Crake Asset Management LLP's holdings in Alphabet were worth $142,640,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Alphabet in the fourth quarter valued at approximately $5,166,070,000. Raymond James Financial Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $1,551,533,000. GQG Partners LLC boosted its holdings in shares of Alphabet by 181,679.1% in the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock valued at $1,376,066,000 after buying an additional 7,221,746 shares in the last quarter. Capital International Investors grew its position in shares of Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after buying an additional 5,758,244 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake in Alphabet by 5,712.8% during the 4th quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider's stock worth $831,810,000 after acquiring an additional 4,292,689 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

Shares of GOOG stock traded up $2.38 during trading hours on Friday, reaching $163.85. 35,100,087 shares of the company's stock were exchanged, compared to its average volume of 19,526,370. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a market cap of $2.00 trillion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. The company's 50 day moving average is $164.69 and its two-hundred day moving average is $177.17.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.77. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, March 10th. Alphabet's dividend payout ratio is currently 9.94%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GOOG shares. KeyCorp dropped their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Citizens Jmp downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Citigroup reiterated a "sell" rating on shares of Alphabet in a research note on Wednesday. Westpark Capital restated a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Friday. Finally, Needham & Company LLC reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $203.94.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This trade represents a 4.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,163 shares of company stock worth $25,361,647. 12.99% of the stock is owned by company insiders.

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.