Hudson Bay Capital Management LP Has $40.14 Million Stock Holdings in Alphabet Inc. $GOOG

Hudson Bay Capital Management LP lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 74.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 226,251 shares of the information services provider’s stock after selling 645,739 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Alphabet were worth $40,135,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of GOOG. IHT Wealth Management LLC boosted its holdings in Alphabet by 3.1% in the 2nd quarter. IHT Wealth Management LLC now owns 90,796 shares of the information services provider’s stock valued at $16,106,000 after purchasing an additional 2,772 shares during the period. Fullerton Fund Management Co Ltd. grew its position in Alphabet by 14.0% during the second quarter. Fullerton Fund Management Co Ltd. now owns 369,677 shares of the information services provider’s stock worth $65,577,000 after buying an additional 45,498 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in Alphabet by 3.6% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 406,933 shares of the information services provider’s stock worth $72,186,000 after acquiring an additional 14,215 shares during the period. Elevatus Welath Management lifted its position in shares of Alphabet by 232.4% during the 2nd quarter. Elevatus Welath Management now owns 37,955 shares of the information services provider’s stock valued at $6,733,000 after acquiring an additional 26,538 shares during the period. Finally, EP Wealth Advisors LLC grew its holdings in shares of Alphabet by 26.6% during the 2nd quarter. EP Wealth Advisors LLC now owns 321,259 shares of the information services provider’s stock worth $56,988,000 after purchasing an additional 67,572 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred 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 owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 228,906 shares of company stock valued at $62,127,158. 12.99% of the stock is owned by company insiders.

Alphabet Trading Down 1.0%

NASDAQ GOOG opened at $310.52 on Friday. The business’s fifty day moving average is $283.75 and its 200 day moving average is $229.94. The company has a market cap of $3.75 trillion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $328.67. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.Alphabet’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.12 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 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. Investors of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Analysts Set New Price Targets

GOOG has been the subject of several recent analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $330.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Piper Sandler upped their price target on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. KeyCorp reissued an “overweight” rating and issued a $330.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. TD Cowen upped their target price on Alphabet from $335.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday. Finally, HSBC reiterated a “buy” rating and issued a $335.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $313.04.

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.