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

a16z Perennial Management L.P. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 73.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,900 shares of the information services provider’s stock after buying an additional 2,080 shares during the period. Alphabet comprises about 0.1% of a16z Perennial Management L.P.’s portfolio, making the stock its 17th biggest position. a16z Perennial Management L.P.’s holdings in Alphabet were worth $815,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. New Hampshire Trust increased its stake in shares of Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after buying an additional 1,132 shares during the period. Berkshire Money Management Inc. purchased a new stake in shares of Alphabet during the first quarter worth approximately $359,000. Schneider Downs Wealth Management Advisors LP increased its stake in shares of Alphabet by 58.4% during the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after buying an additional 2,351 shares during the period. Trinity Financial Advisors LLC increased its stake in shares of Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after buying an additional 190 shares during the period. Finally, StoneCrest Wealth Management Inc. increased its stake in shares of Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after buying an additional 140 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOGL. Citigroup increased their price target on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Bank of America increased their price target on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Tigress Financial increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Mizuho increased their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, KeyCorp increased their price target on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insider Activity

In other news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the completion of the transaction, the director now owns 30,024 shares in the company, valued at $4,894,812.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % 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, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the sale, the director now owns 30,024 shares of the company’s stock, valued at approximately $4,894,812.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 242,552 shares of company stock worth $40,287,253 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Alphabet stock opened at $178.35 on Friday. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business has a fifty day moving average of $163.54 and a two-hundred day moving average of $169.59. The company has a market cap of $2.18 trillion, a P/E ratio of 23.65, a price-to-earnings-growth ratio of 1.25 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released 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 return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the company earned $1.55 earnings per share. As a group, analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

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.