Cheyne Capital Management UK LLP Makes New Investment in Alphabet Inc (NASDAQ:GOOGL)

Cheyne Capital Management UK LLP acquired a new stake in shares of Alphabet Inc (NASDAQ:GOOGL) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 5,000 shares of the information services provider’s stock, valued at approximately $5,414,000. Alphabet accounts for 3.9% of Cheyne Capital Management UK LLP’s portfolio, making the stock its 7th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Thoroughbred Financial Services LLC increased its holdings in Alphabet by 205,910.9% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock worth $339,300,000 after acquiring an additional 3,391,353 shares in the last quarter. Packer & Co Ltd grew its holdings in shares of Alphabet by 4,018.6% in the second quarter. Packer & Co Ltd now owns 958,600 shares of the information services provider’s stock valued at $25,202,000 after purchasing an additional 935,325 shares during the period. Royal London Asset Management Ltd. acquired a new position in Alphabet in the fourth quarter valued at about $237,900,000. AMF Pensionsforsakring AB lifted its position in Alphabet by 172.7% in the fourth quarter. AMF Pensionsforsakring AB now owns 209,505 shares of the information services provider’s stock valued at $218,924,000 after buying an additional 132,686 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in Alphabet by 41.6% in the second quarter. CIBC Private Wealth Group LLC now owns 243,947 shares of the information services provider’s stock valued at $264,144,000 after buying an additional 71,681 shares during the last quarter. Institutional investors and hedge funds own 33.81% of the company’s stock.

Shares of GOOGL traded up $16.81 during trading on Thursday, reaching $1,236.81. The company’s stock had a trading volume of 509,448 shares, compared to its average volume of 1,598,249. Alphabet Inc has a twelve month low of $977.66 and a twelve month high of $1,296.97. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. The company has a market cap of $835.73 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 1.34 and a beta of 0.99. The company has a fifty day moving average of $1,191.17 and a two-hundred day moving average of $1,166.46.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. The business had revenue of $31.71 billion during the quarter, compared to the consensus estimate of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. As a group, equities analysts forecast that Alphabet Inc will post 51.29 EPS for the current fiscal year.

A number of research firms have commented on GOOGL. Credit Suisse Group upped their target price on shares of Alphabet from $1,400.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $1,310.00 to $1,420.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Nomura reaffirmed a “buy” rating and issued a $1,400.00 target price (up previously from $1,300.00) on shares of Alphabet in a report on Friday, July 26th. Mizuho raised their target price on shares of Alphabet from $1,350.00 to $1,400.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Zacks Investment Research raised shares of Alphabet from a “sell” rating to a “hold” rating and set a $1,189.00 target price on the stock in a report on Monday, July 8th. Eight investment analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and a consensus price target of $1,373.76.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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