Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 116,523 shares of the information services provider's stock after purchasing an additional 8,821 shares during the period. Penserra Capital Management LLC's holdings in Alphabet were worth $18,017,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new position in Alphabet in the 1st quarter valued at approximately $28,000. Elite Financial Inc. purchased a new position in Alphabet in the first quarter valued at $42,000. Anderson Financial Strategies LLC acquired a new position in Alphabet during the 4th quarter worth $49,000. EQ Wealth Advisors LLC acquired a new position in Alphabet during the 1st quarter worth $49,000. Finally, Navigoe LLC purchased a new stake in Alphabet during the 4th quarter worth about $51,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director owned 6,813 shares of the company's stock, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 182,943 shares of company stock valued at $31,223,348. Company insiders own 11.55% of the company's stock.

Analysts Set New Price Targets

GOOGL has been the subject of several recent research reports. Roth Capital reiterated a "buy" rating and issued a $205.00 price objective (up previously from $180.00) on shares of Alphabet in a research note on Tuesday, July 8th. Roth Mkm reiterated a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. JMP Securities upgraded Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 price objective on the stock in a report on Friday, June 27th. Susquehanna decreased their target price on Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research note on Friday, April 25th. Finally, DA Davidson cut their price objective on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $201.24.

Alphabet Price Performance

Shares of GOOGL stock traded up $0.97 during mid-day trading on Wednesday, reaching $182.97. The stock had a trading volume of 33,066,989 shares, compared to its average volume of 31,989,895. The company has a market cap of $2.22 trillion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The business has a 50-day simple moving average of $171.04 and a 200 day simple moving average of $173.13.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the firm posted $1.89 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.

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.