a16z Perennial Management L.P. Acquires New Shares in Alphabet Inc. $GOOGL

a16z Perennial Management L.P. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,920 shares of the information services provider’s stock, valued at approximately $869,000. Alphabet comprises 0.1% of a16z Perennial Management L.P.’s holdings, making the stock its 22nd biggest position.

Several other institutional investors also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. lifted its holdings in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet during the first quarter worth approximately $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC raised its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in Alphabet during the 1st quarter worth approximately $39,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 222,396 shares of company stock worth $54,105,275. 11.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GOOGL shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Needham & Company LLC lifted their target price on Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Westpark Capital raised their price target on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Finally, Piper Sandler reissued an “overweight” rating and set a $330.00 price objective (up from $285.00) on shares of Alphabet in a report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $304.10.

Alphabet Price Performance

Shares of GOOGL stock opened at $278.83 on Friday. 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 12-month low of $140.53 and a 12-month high of $291.59. The firm has a fifty day moving average of $251.23 and a 200-day moving average of $204.19. The firm has a market capitalization of $3.37 trillion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

About Alphabet

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.