a16z Perennial Management L.P. Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

a16z Perennial Management L.P. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 73.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,900 shares of the information services provider’s stock after buying an additional 2,080 shares during the quarter. Alphabet comprises about 0.1% of a16z Perennial Management L.P.’s investment portfolio, making the stock its 17th largest holding. a16z Perennial Management L.P.’s holdings in Alphabet were worth $815,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. New Hampshire Trust raised its position in shares of Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares during the last quarter. Berkshire Money Management Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at approximately $359,000. Schneider Downs Wealth Management Advisors LP raised its position in shares of Alphabet by 58.4% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after purchasing an additional 2,351 shares during the last quarter. Trinity Financial Advisors LLC raised its position in shares of Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after purchasing an additional 190 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. raised its position in shares of Alphabet by 0.7% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after purchasing an additional 140 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 1.3 %

NASDAQ GOOGL opened at $178.35 on Friday. The firm’s 50-day moving average is $163.54 and its two-hundred day moving average is $169.59. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market capitalization of $2.18 trillion, a P/E ratio of 23.65, a PEG ratio of 1.25 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. Alphabet’s payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Tigress Financial raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada raised their price target on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, DA Davidson started coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 242,552 shares of company stock valued at $40,287,253 over the last 90 days. 11.55% of the stock is owned by insiders.

Alphabet 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.