Alphabet Inc. (NASDAQ:GOOGL) is Pennant Investors LP’s 5th Largest Position

Pennant Investors LP lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,700 shares of the information services provider’s stock after selling 6,300 shares during the quarter. Alphabet accounts for 7.9% of Pennant Investors LP’s portfolio, making the stock its 5th largest position. Pennant Investors LP’s holdings in Alphabet were worth $27,770,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Compass Planning Associates Inc bought a new stake in Alphabet during the fourth quarter valued at approximately $30,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Alphabet by 518.8% during 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 acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the 4th quarter worth $39,000. PayPay Securities Corp raised its holdings in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the period. Finally, Denver PWM LLC lifted its position in Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,163 shares of company stock worth $25,361,647. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $151.47 on Wednesday. The company has a 50 day moving average price of $163.72 and a 200 day moving average price of $175.61. The firm has a market capitalization of $1.85 trillion, a P/E ratio of 18.82, a PEG ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. Alphabet’s dividend payout ratio is currently 9.94%.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $220.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Wells Fargo & Company dropped their price target on shares of Alphabet from $184.00 to $167.00 and set an “equal weight” rating for the company in a research report on Monday, March 31st. Westpark Capital upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lowered their price objective on Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Citigroup dropped their price objective on Alphabet from $229.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $200.74.

About Alphabet

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.