Columbus Hill Capital Management L.P. Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Columbus Hill Capital Management L.P. purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 161,415 shares of the information services provider's stock, valued at approximately $30,556,000. Alphabet makes up approximately 6.0% of Columbus Hill Capital Management L.P.'s investment portfolio, making the stock its 7th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Cascades Capital Asset Management LLC boosted its holdings in Alphabet by 0.6% in the fourth quarter. Cascades Capital Asset Management LLC now owns 16,114 shares of the information services provider's stock worth $3,050,000 after acquiring an additional 100 shares in the last quarter. Mirabaud Asset Management Ltd boosted its stake in Alphabet by 5.8% in the 4th quarter. Mirabaud Asset Management Ltd now owns 41,986 shares of the information services provider's stock worth $8,029,000 after purchasing an additional 2,298 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co increased its stake in Alphabet by 50.7% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 1,619,888 shares of the information services provider's stock valued at $306,645,000 after purchasing an additional 545,000 shares in the last quarter. Nutshell Asset Management Ltd purchased a new position in Alphabet in the fourth quarter worth about $11,159,000. Finally, Russell Investments Group Ltd. increased its position in shares of Alphabet by 1.2% during the fourth quarter. Russell Investments Group Ltd. now owns 5,808,815 shares of the information services provider's stock valued at $1,101,749,000 after acquiring an additional 66,166 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $161.90, for a total transaction of $32,380.00. Following the completion of the sale, the director now directly owns 7,613 shares in the company, valued at approximately $1,232,544.70. The trade was a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares of the company's stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 118,497 shares of company stock valued at $20,837,150 in the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GOOGL shares. Needham & Company LLC reiterated a "buy" rating and issued a $225.00 price target on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush set a $190.00 target price on shares of Alphabet and gave the company an "outperform" rating in a research report on Tuesday. Morgan Stanley decreased their price target on shares of Alphabet from $215.00 to $210.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. UBS Group set a $190.00 price objective on Alphabet in a research note on Thursday, March 27th. Finally, DA Davidson cut their price target on Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a report on Monday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $204.72.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded down $3.07 during trading on Tuesday, reaching $156.00. 17,462,183 shares of the company traded hands, compared to its average volume of 28,182,383. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.90 trillion, a P/E ratio of 19.38, a PEG ratio of 1.34 and a beta of 1.03. The firm's fifty day simple moving average is $167.87 and its 200 day simple moving average is $176.28.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet's dividend payout ratio (DPR) is currently 9.94%.

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.