Permanent Capital Management LP Makes New $273,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

Permanent Capital Management LP acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,440 shares of the information services provider’s stock, valued at approximately $273,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Compass Planning Associates Inc purchased a new position in shares of Alphabet during the 4th quarter valued at $30,000. LMR Partners LLP acquired a new stake in shares of Alphabet in the 3rd quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new position in Alphabet during the 4th quarter worth $39,000. Finally, PayPay Securities Corp lifted its position in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research reports. DA Davidson boosted their price objective on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. JPMorgan Chase & Co. dropped their price objective on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Robert W. Baird restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Rosenblatt Securities reissued a “neutral” rating and issued a $205.00 target price on shares of Alphabet in a research note on Wednesday. Finally, Stifel Nicolaus upped their target price on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $210.59.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock valued at $17,374,274 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Down 0.7 %

Shares of NASDAQ GOOGL opened at $162.80 on Friday. The company’s 50 day simple moving average is $183.13 and its 200 day simple moving average is $176.37. Alphabet Inc. has a fifty-two week low of $146.90 and a fifty-two week high of $207.05. The firm has a market capitalization of $1.98 trillion, a P/E ratio of 20.22, a P/E/G ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.