20,400 Shares of Alphabet Inc. $GOOGL Bought by OPTIMAS CAPITAL Ltd

OPTIMAS CAPITAL Ltd acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 20,400 shares of the information services provider’s stock, valued at approximately $7,019,000. Alphabet makes up approximately 9.3% of OPTIMAS CAPITAL Ltd’s holdings, making the stock its 3rd largest position.

Other hedge funds have also recently bought and sold shares of the company. Titleist Asset Management LLC lifted its stake in Alphabet by 6.4% during the third quarter. Titleist Asset Management LLC now owns 34,613 shares of the information services provider’s stock worth $11,909,000 after purchasing an additional 2,096 shares during the last quarter. Elefante Mark B boosted its holdings in shares of Alphabet by 4.5% in the 2nd quarter. Elefante Mark B now owns 43,733 shares of the information services provider’s stock valued at $15,629,000 after purchasing an additional 1,897 shares in the last quarter. Nwam LLC increased its stake in shares of Alphabet by 19.6% in the 1st quarter. Nwam LLC now owns 49,128 shares of the information services provider’s stock valued at $14,127,000 after purchasing an additional 8,055 shares during the last quarter. WCM Investment Management LLC increased its stake in shares of Alphabet by 287.4% in the 1st quarter. WCM Investment Management LLC now owns 3,886 shares of the information services provider’s stock valued at $1,063,000 after purchasing an additional 2,883 shares during the last quarter. Finally, Spinnaker Investment Group LLC increased its stake in shares of Alphabet by 51.4% in the 2nd quarter. Spinnaker Investment Group LLC now owns 4,759 shares of the information services provider’s stock valued at $1,701,000 after purchasing an additional 1,616 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Key Alphabet News

Here’s some of the latest news about GOOGL:

• Positive Sentiment: Google made a faster, lower-cost Gemini model its everyday default and opened preorders for $395 Samsung-built AI glasses, scheduled to ship December 10. The product rollout highlights Alphabet’s effort to bring its AI services to more users and devices. Read More.
• Positive Sentiment: Google Cloud’s reported 103% third-quarter revenue growth and tripling of operating income suggest that Alphabet’s large AI infrastructure investments may be generating returns, bolstering the case for spending despite its scale. Read More.
• Positive Sentiment: Nvidia CEO Jensen Huang’s abrupt departure could encourage cloud customers to diversify AI-chip suppliers. Alphabet’s TPUs may benefit from that shift; Google Cloud also uses AMD processors in TPU infrastructure. Read More.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GOOGL shares. Benchmark reissued a “buy” rating on shares of Alphabet in a report on Thursday, October 1st. UBS Group set a $332.00 price objective on Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 29th. Needham & Company LLC reiterated a “buy” rating and issued a $450.00 target price on shares of Alphabet in a research report on Thursday, October 29th. Yorkville Ives initiated coverage on Alphabet in a research report on Monday, October 5th. They issued an “outperform” rating and a $400.00 target price on the stock. Finally, Moffett Nathanson set a $345.00 target price on Alphabet in a research note on Thursday, October 29th. Five analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $412.51.

Insider Buying and Selling

In other news, Director Frances Arnold sold 83 shares of Alphabet stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total transaction of $28,257.35. Following the sale, the director directly owned 19,076 shares of the company’s stock, valued at approximately $6,494,424.20. This trade represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 247 shares of company stock valued at $79,238 in the last ninety days. 11.61% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of GOOGL traded down $2.93 during trading hours on Friday, reaching $295.77. The stock had a trading volume of 30,682,111 shares, compared to its average volume of 40,687,932. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.69 and a current ratio of 2.79. Alphabet Inc. has a 12 month low of $270.70 and a 12 month high of $408.61. The stock has a market capitalization of $3.64 trillion, a PE ratio of 15.44, a PEG ratio of 0.90 and a beta of 1.23. The company’s 50-day moving average is $328.18 and its two-hundred day moving average is $338.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 28th. The information services provider reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $3.02 by ($0.90). The firm had revenue of $127.58 billion for the quarter, compared to the consensus estimate of $127.96 billion. Alphabet had a return on equity of 43.33% and a net margin of 50.03%. Research analysts expect that Alphabet Inc. will post 19.81 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Shareholders of record on Monday, December 7th will be given a $0.22 dividend. The ex-dividend date is Monday, December 7th. This represents a $0.88 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 4.59%.

Alphabet Company Profile

Alphabet Inc. is a technology holding company whose largest business is Google. Founded in 1998 by Larry Page and Sergey Brin, Google became part of Alphabet when the company reorganized its businesses under the holding-company structure in 2015. Google’s products and services include Search, YouTube, Android, Chrome, Google Maps, Google Play and Google Cloud. The company also generates revenue from digital advertising and offers devices, subscriptions and artificial intelligence products and services.