Parvin Asset Management LLC Acquires New Stake in Alphabet Inc. (NASDAQ:GOOGL)

Parvin Asset Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 460 shares of the information services provider’s stock, valued at approximately $87,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Compass Planning Associates Inc purchased a new stake in Alphabet in the 4th quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth about $39,000. PayPay Securities Corp raised its stake in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the period. Finally, Denver PWM LLC lifted its holdings in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.8 %

Shares of NASDAQ:GOOGL opened at $158.80 on Thursday. The company has a market capitalization of $1.94 trillion, a PE ratio of 19.73, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The business has a 50 day moving average of $160.78 and a two-hundred day moving average of $175.37. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter last year, the business earned $1.89 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.53%. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the sale, the chief executive officer now directly owns 2,685,196 shares in the company, valued at approximately $419,320,207.36. This trade represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,053 shares of company stock valued at $25,339,647. 11.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GOOGL has been the subject of several research analyst reports. Truist Financial cut their price target on Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, April 17th. KeyCorp boosted their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Needham & Company LLC reiterated a “buy” rating and set a $178.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Wells Fargo & Company boosted their target price on shares of Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Finally, Rosenblatt Securities lowered their price target on shares of Alphabet from $205.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $199.46.

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.