Penserra Capital Management LLC Buys 147 Shares of Alphabet Inc. (NASDAQ:GOOG)

Penserra Capital Management LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,240 shares of the information services provider’s stock after purchasing an additional 147 shares during the period. Penserra Capital Management LLC’s holdings in Alphabet were worth $2,046,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOG. StoneX Group Inc. raised its position in Alphabet by 3.2% during the third quarter. StoneX Group Inc. now owns 21,491 shares of the information services provider’s stock valued at $3,593,000 after purchasing an additional 659 shares in the last quarter. WESPAC Advisors LLC increased its stake in shares of Alphabet by 4.9% in the 3rd quarter. WESPAC Advisors LLC now owns 2,602 shares of the information services provider’s stock valued at $435,000 after purchasing an additional 121 shares during the last quarter. Lane & Associates LLC lifted its position in shares of Alphabet by 7.5% during the 3rd quarter. Lane & Associates LLC now owns 1,859 shares of the information services provider’s stock worth $311,000 after buying an additional 130 shares during the last quarter. Truepoint Inc. boosted its stake in Alphabet by 6.2% in the third quarter. Truepoint Inc. now owns 3,017 shares of the information services provider’s stock valued at $504,000 after buying an additional 177 shares in the last quarter. Finally, Towercrest Capital Management grew its position in Alphabet by 3.7% in the third quarter. Towercrest Capital Management now owns 4,171 shares of the information services provider’s stock valued at $697,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GOOG. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group increased their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. UBS Group boosted their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $200.56.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. The trade was a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 206,795 shares of company stock valued at $34,673,866. 12.99% of the stock is owned by insiders.

Alphabet Stock Up 1.7 %

Alphabet stock opened at $169.43 on Tuesday. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm’s 50-day simple moving average is $169.30 and its 200 day simple moving average is $171.85. The stock has a market cap of $2.07 trillion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 1.16 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.55 earnings per share. Research analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

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.