Alphabet Inc. (NASDAQ:GOOG) is Panview Capital Ltd's 4th Largest Position

Key Points

• Panview Capital Ltd increased its stake in Alphabet Inc. by 6.6% in Q1, now holding 222,774 shares worth approximately $34.8 million, making it the fund's fourth largest position.
• Insider trades saw Director Kavitark Ram Shriram sell 18,566 shares, reducing his ownership by 7.09%, while a total of 249,409 shares were sold by insiders in the last ninety days.
• Alphabet's quarterly earnings surpassed estimates with an EPS of $2.31 and revenue of $96.43 billion, reflecting a 13.8% year-over-year increase.

Panview Capital Ltd raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 222,774 shares of the information services provider's stock after purchasing an additional 13,774 shares during the period. Alphabet accounts for approximately 13.2% of Panview Capital Ltd's holdings, making the stock its 4th biggest position. Panview Capital Ltd's holdings in Alphabet were worth $34,804,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Concentrum Wealth Management increased its holdings in shares of Alphabet by 0.3% during the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock worth $3,300,000 after buying an additional 57 shares in the last quarter. JDM Financial Group LLC increased its holdings in shares of Alphabet by 10.6% during the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock worth $113,000 after buying an additional 57 shares in the last quarter. Kidder Stephen W increased its holdings in shares of Alphabet by 1.6% during the fourth quarter. Kidder Stephen W now owns 3,608 shares of the information services provider's stock worth $687,000 after buying an additional 58 shares in the last quarter. Providence Wealth Advisors LLC increased its holdings in shares of Alphabet by 0.6% during the fourth quarter. Providence Wealth Advisors LLC now owns 10,102 shares of the information services provider's stock worth $1,992,000 after buying an additional 60 shares in the last quarter. Finally, Objectivity Squared LLC raised its position in Alphabet by 0.4% during the 1st quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock worth $2,605,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 27.26% of the company's stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 249,409 shares of company stock valued at $43,523,710. 12.99% of the stock is owned by insiders.

Alphabet Trading Down 0.6%

NASDAQ GOOG traded down $1.18 during trading on Monday, hitting $192.90. 15,549,912 shares of the company's stock traded hands, compared to its average volume of 24,222,178. The stock has a fifty day moving average of $176.86 and a two-hundred day moving average of $174.38. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The firm has a market cap of $2.34 trillion, a P/E ratio of 20.55, a PEG ratio of 1.31 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.89 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

Several brokerages have commented on GOOG. Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Westpark Capital reissued a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. UBS Group lifted their target price on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $220.00 price target on shares of Alphabet in a research note on Monday, June 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $215.19.

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.