Panoramic Capital Partners LLC Purchases 902 Shares of Alphabet Inc. $GOOGL

Panoramic Capital Partners LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 16.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,493 shares of the information services provider’s stock after buying an additional 902 shares during the period. Alphabet comprises approximately 0.8% of Panoramic Capital Partners LLC’s holdings, making the stock its 14th largest position. Panoramic Capital Partners LLC’s holdings in Alphabet were worth $1,166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Nuveen LLC bought a new position in shares of Alphabet during the 1st quarter valued at about $4,317,606,000. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Alphabet by 307.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider’s stock valued at $1,593,201,000 after purchasing an additional 7,774,811 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after purchasing an additional 4,473,901 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock valued at $5,034,992,000 after purchasing an additional 3,537,173 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $245.76 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm’s 50 day moving average price is $223.41 and its 200-day moving average price is $187.13. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The company has a market cap of $2.97 trillion, a PE ratio of 26.17, a P/E/G ratio of 1.69 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Monday, September 15th. The shares were sold at an average price of $249.44, for a total value of $149,664.00. Following the transaction, the director directly owned 5,716 shares of the company’s stock, valued at approximately $1,425,799.04. The trade was a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock valued at $59,135,475 over the last quarter. Insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on GOOGL. HSBC began coverage on shares of Alphabet in a report on Tuesday. They set a “buy” rating and a $285.00 price objective for the company. Needham & Company LLC increased their price target on shares of Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, September 3rd. Wolfe Research increased their price target on shares of Alphabet from $220.00 to $290.00 in a report on Tuesday, September 30th. Finally, Citigroup increased their price target on shares of Alphabet from $225.00 to $280.00 and gave the company a “buy” rating in a report on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $242.98.

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.