PARUS FINANCE UK Ltd Purchases 301 Shares of Alphabet Inc. (NASDAQ:GOOGL)

PARUS FINANCE UK Ltd increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,171 shares of the information services provider’s stock after acquiring an additional 301 shares during the period. Alphabet comprises 10.4% of PARUS FINANCE UK Ltd’s investment portfolio, making the stock its 3rd biggest position. PARUS FINANCE UK Ltd’s holdings in Alphabet were worth $30,491,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock valued at $2,483,898,000 after purchasing an additional 15,968,487 shares during the period. Northern Trust Corp boosted its holdings in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. Capital Research Global Investors boosted its holdings in Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. Wellington Management Group LLP boosted its holdings in Alphabet by 15.9% in the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock valued at $12,503,291,000 after purchasing an additional 9,042,271 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Alphabet by 307.6% during the first quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider’s stock worth $1,593,201,000 after purchasing an additional 7,774,811 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $201.00 on Tuesday. The firm has a market capitalization of $2.43 trillion, a P/E ratio of 21.41, a PEG ratio of 1.36 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company’s fifty day moving average is $181.53 and its two-hundred day moving average is $172.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s dividend payout ratio is 8.95%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Loop Capital restated a “hold” rating and issued a $190.00 price target (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Piper Sandler lifted their price target on Alphabet from $195.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Cantor Fitzgerald lifted their price target on Alphabet from $196.00 to $201.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. DA Davidson lifted their price target on Alphabet from $160.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, Rosenblatt Securities lifted their price target on Alphabet from $189.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $211.53.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00. Following the sale, the chief executive officer owned 2,494,892 shares of the company’s stock, valued at approximately $489,572,657.16. This represents a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the sale, the director directly owned 6,916 shares in the company, valued at $1,383,200. This trade represents a 12.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 274,219 shares of company stock worth $49,674,273 over the last ninety days. 11.55% of the stock is currently owned by company insiders.

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.