Kazazian Asset Management LLC Makes New $15.69 Million Investment in Alphabet Inc. (NASDAQ:GOOG)

Kazazian Asset Management LLC bought a new position in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 82,392 shares of the information services provider’s stock, valued at approximately $15,691,000. Alphabet makes up approximately 12.0% of Kazazian Asset Management LLC’s portfolio, making the stock its 3rd biggest holding.

Several other hedge funds have also added to or reduced their stakes in GOOG. Weiss Asset Management LP bought a new position in shares of Alphabet during the third quarter valued at $25,000. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the fourth quarter valued at $27,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet during the third quarter valued at $33,000. Noble Wealth Management PBC bought a new position in shares of Alphabet during the fourth quarter valued at $43,000. Finally, FPC Investment Advisory Inc. lifted its holdings in shares of Alphabet by 287.9% during the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 167 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,048 shares of company stock valued at $17,374,274. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush reiterated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Oppenheimer upped their price objective on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Stock Performance

NASDAQ:GOOG opened at $162.67 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $147.01 and a 12-month high of $208.70. The stock has a 50-day moving average price of $186.10 and a 200 day moving average price of $178.10. The stock has a market capitalization of $1.98 trillion, a P/E ratio of 20.21, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is presently 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.