Ninepoint Partners LP Increases Holdings in Alphabet Inc.

Ninepoint Partners LP significantly increased its investment in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, raising its holdings by an impressive 632.1%, as reported in its latest Form 13F filing with the Securities and Exchange Commission. The firm now owns 5,242 shares of the well-known information services provider after acquiring an additional 4,526 shares throughout the quarter. Based on its latest filing, Ninepoint Partners LP's total investment in Alphabet is valued at approximately $998,000.

Other institutional investors have been active as well, either ramping up their investments in Alphabet or adjusting their stakes. For instance, Swedbank AB increased its holdings by 0.6% in the third quarter, resulting in a total of 8,338,900 shares valued at around $1.39 billion after adding 51,226 shares. Similarly, Principal Financial Group Inc. raised its stake by 2.5%, acquiring an additional 264,962 shares, bringing its total to 11,024,276 shares worth approximately $1.84 billion.

Seelaus Asset Management LLC also boosted its position in Alphabet by 48.4%, now holding 9,194 shares valued at $1.54 million after acquiring an extra 3,000 shares. Additionally, Evolution Wealth Advisors LLC increased its holdings by 1.3%, bringing its total to 57,865 shares valued at approximately $9.67 million. Lastly, RIA Advisory Group LLC entered the fray by purchasing a new stake worth about $323,000.

Currently, about 27.26% of Alphabet's stock is owned by hedge funds and other institutional investors.

Overview of Alphabet's Stock Performance

As of Friday, shares of Alphabet (NASDAQ:GOOG) opened at $167.62. The company's market capitalization stands at $2.04 trillion. Its price-to-earnings (PE) ratio is 20.82, while the price-to-earnings-growth (PEG) ratio is 1.34, with a beta value of 1.03. Over the past year, Alphabet has seen a low of $141.13 and a high of $208.70. The firm's debt-to-equity ratio is 0.03, with both quick and current ratios at 1.84. The business also shows a 50-day moving average price of $187.41 and a 200-day moving average price of $178.00.

Recent Earnings Announcement

Alphabet released its quarterly earnings data on February 4th, reporting earnings per share (EPS) of $2.15. This figure exceeded analysts' expectations, which had an estimate of $2.12. The company has achieved a return on equity of 32.49% and a net margin of 28.60%. Analysts project that Alphabet Inc. will generate an EPS of 8.89 for the current year.

Dividend Announcement by Alphabet

Recently, Alphabet declared a quarterly dividend set to be paid on March 17th. Shareholders who are on record by March 10th will receive a dividend of $0.20 per share. This amounts to an annualized dividend of $0.80, yielding approximately 0.48%. The ex-dividend date is also March 10th, and Alphabet maintains a payout ratio of 9.94%.

Updates on Analyst Ratings

Several research analysts have commented on Alphabet's stock. For example, Oppenheimer raised their price target from $215.00 to $225.00 while maintaining an "outperform" rating. Morgan Stanley reiterated an "overweight" rating, and Wedbush also confirmed an "outperform" rating with a price objective of $220.00. Needham & Company LLC renewed a "buy" recommendation, and The Goldman Sachs Group maintained a "buy" rating. Currently, one analyst has issued a sell rating, six analysts have given a hold rating, while fourteen have recommended buying, and three issued a strong buy rating. Reports indicate an average rating of "Moderate Buy" with a target price of $209.13.

Insider Trading Activities

In related news regarding stock trades, CAO Amie Thuener O'toole sold 2,834 shares on December 16th at an average price of $197.55, totaling $559,856.70. Post-transaction, she has 20,681 shares left, worth about $4.09 million, reflecting a 12.05% decrease in her ownership. Additionally, John Kent Walker, an insider, sold 16,820 shares on December 30th at an average price of $192.62, totaling approximately $3.24 million. Following this trade, Walker owns 43,981 shares, valued at $8.47 million, a decrease of 27.66% in his position. In the last quarter, insiders sold 95,882 shares valued at approximately $17.93 million. Currently, 12.99% of Alphabet's stock is held by insiders.

About Alphabet Inc.

Alphabet Inc. is a multinational conglomerate that offers a range of products and services globally. Its operations are divided into three main segments: Google Services, Google Cloud, and Other Bets. The Google Services segment encompasses a variety of popular products, including advertising, Android, Chrome, various devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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