NINE MASTS CAPITAL Ltd Takes $30.32 Million Position in Alphabet Inc. $GOOG

NINE MASTS CAPITAL Ltd bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 170,936 shares of the information services provider's stock, valued at approximately $30,322,000. Alphabet accounts for 9.5% of NINE MASTS CAPITAL Ltd's investment portfolio, making the stock its 3rd largest position.

• Alphabet: The AI Leader Best Positioned to Dominate 2026

Other hedge funds also recently bought and sold shares of the company. IFS Advisors LLC grew its position in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock worth $27,000 after buying an additional 120 shares during the last quarter. Robbins Farley lifted its stake in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock worth $28,000 after acquiring an additional 60 shares during the period. WestEnd Advisors LLC lifted its stake in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock worth $29,000 after acquiring an additional 61 shares during the period. Fairman Group LLC boosted its holdings in Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider's stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. Finally, University of Illinois Foundation purchased a new position in Alphabet during the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

GOOG opened at $320.28 on Friday. The firm has a market cap of $3.86 trillion, a PE ratio of 31.59, a P/E/G ratio of 1.86 and a beta of 1.05. The stock has a 50-day moving average price of $268.53 and a 200-day moving average price of $218.44. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $328.67. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

• Meta Platforms May Ditch NVIDIA Chips—Here’s Why Investors Care

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Alphabet's revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.12 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 8.28%.

Insider Activity

• Google's Gemini 3 Sends Broadcom Soaring: TPUs Take Center Stage

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction on Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the completion of the sale, the chief accounting officer owned 11,739 shares of the company's stock, valued at approximately $3,383,884.14. This trade represents a 19.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 112 shares of the business's stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the transaction, the director owned 18,004 shares of the company's stock, valued at $5,253,567.20. This represents a 0.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 227,850 shares of company stock worth $58,874,814 over the last three months. 12.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Piper Sandler increased their price target on shares of Alphabet from $285.00 to $330.00 and gave the stock an "overweight" rating in a research note on Thursday, October 30th. KeyCorp restated an "overweight" rating and issued a $330.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Loop Capital raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, November 18th. Finally, Scotiabank set a $336.00 target price on Alphabet and gave the stock a "sector outperform" rating in a report on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Buy" and an average target price of $304.62.

Check Out Our Latest Analysis on GOOG

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.

Further Reading

• Five stocks we like better than Alphabet
• Natural Gas Prices Continue To Rally, These Stocks Should Benefit
• How Semtech’s Data Center Chips Are Powering the AI Boom
• 3 Fintech Stocks With Good 2021 Prospects
• Keysight Technologies' Surge: The Market Wakes Up to This AI Play
• Differences Between Momentum Investing and Long Term Investing
• Is American Express the Credit Stock For a K-Shaped Economy?

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Alphabet Right Now?

Before you consider Alphabet, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.

While Alphabet currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here