a16z Perennial Management L.P. Acquires Shares of 4,920 Alphabet Inc. $GOOGL

a16z Perennial Management L.P. acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the second quarter, HoldingsChannel.com reports. The fund acquired 4,920 shares of the information services provider’s stock, valued at approximately $869,000. Alphabet makes up about 0.1% of a16z Perennial Management L.P.’s portfolio, making the stock its 22nd largest position.

Other institutional investors have also made changes to their positions in the company. Guardian Wealth Management Inc. boosted its position in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth about $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the 1st quarter worth about $28,000. NBZ Investment Advisors LLC boosted its holdings in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the 1st quarter valued at about $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GOOGL shares. Wedbush restated an “outperform” rating and set a $320.00 price objective (up from $245.00) on shares of Alphabet in a research report on Thursday, October 30th. Melius Research increased their target price on Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. JPMorgan Chase & Co. lifted their price target on Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Cantor Fitzgerald upped their price objective on Alphabet from $265.00 to $310.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Finally, Wolfe Research reiterated an “outperform” rating and set a $350.00 price objective (up previously from $290.00) on shares of Alphabet in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $304.10.

Insider Activity

In other news, Director Frances Arnold sold 112 shares of Alphabet 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 transaction, the director owned 18,004 shares in the company, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $282.33, for a total value of $269,342.82. Following the transaction, the chief accounting officer directly owned 14,517 shares of the company’s stock, valued at $4,098,584.61. This trade represents a 6.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 222,396 shares of company stock valued at $54,105,275. Corporate insiders own 11.64% of the company’s stock.

Alphabet Trading Down 2.1%

GOOGL opened at $278.83 on Friday. The stock has a market capitalization of $3.37 trillion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $291.59. The company has a 50-day simple moving average of $251.23 and a 200 day simple moving average of $204.19.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

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.