Penserra Capital Management LLC Grows Stake in Alphabet Inc. $GOOGL

Penserra Capital Management LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 22.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 143,010 shares of the information services provider’s stock after acquiring an additional 26,487 shares during the quarter. Penserra Capital Management LLC’s holdings in Alphabet were worth $25,200,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. Smart Money Group LLC lifted its holdings in shares of Alphabet by 9.4% in the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock valued at $956,000 after purchasing an additional 532 shares during the last quarter. ESG Planning DBA Harper Investing boosted its position in shares of Alphabet by 29.2% in the 1st quarter. ESG Planning DBA Harper Investing now owns 23,365 shares of the information services provider’s stock valued at $3,613,000 after purchasing an additional 5,277 shares during the period. Finally, Sage Private Wealth Group LLC grew its stake in Alphabet by 2.7% during the 1st quarter. Sage Private Wealth Group LLC now owns 3,808 shares of the information services provider’s stock worth $589,000 after buying an additional 100 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GOOGL shares. Daiwa Capital Markets boosted their price objective on Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. DA Davidson upped their price target on shares of Alphabet from $190.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. President Capital increased their price target on shares of Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. BNP Paribas Exane lifted their price objective on shares of Alphabet from $247.00 to $281.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Finally, UBS Group reaffirmed a “neutral” rating and issued a $306.00 target price (up from $255.00) on shares of Alphabet in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $305.33.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $292.81 on Thursday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $303.81. The company has a 50-day moving average price of $260.23 and a 200 day moving average price of $211.57. The company has a market cap of $3.53 trillion, a P/E ratio of 28.88, a PEG 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 (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current 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 issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.28%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $288.26, for a total transaction of $800,786.28. Following the transaction, the chief accounting officer directly owned 11,739 shares of the company’s stock, valued at $3,383,884.14. This represents a 19.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total transaction of $9,213,100.00. Following the completion of the sale, the chief executive officer owned 2,337,119 shares of the company’s stock, valued at $662,526,494.12. This trade represents a 1.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 192,674 shares of company stock valued at $48,454,423 over the last 90 days. Company insiders own 11.64% of the company’s stock.

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.