Perella Weinberg Partners Capital Management LP Acquires New Shares in Alphabet Inc (NASDAQ:GOOG)

Perella Weinberg Partners Capital Management LP bought a new position in shares of Alphabet Inc (NASDAQ:GOOG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,321 shares of the information services provider’s stock, valued at approximately $16,653,000. Alphabet makes up about 4.4% of Perella Weinberg Partners Capital Management LP’s portfolio, making the stock its 2nd biggest position.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Alphabet by 1.5% during the first quarter. BlackRock Inc. now owns 20,264,225 shares of the information services provider’s stock worth $23,563,444,000 after buying an additional 295,467 shares in the last quarter. State Street Corp grew its position in Alphabet by 0.8% during the 1st quarter. State Street Corp now owns 11,814,026 shares of the information services provider’s stock worth $13,737,468,000 after acquiring an additional 98,084 shares during the last quarter. Capital International Investors increased its holdings in Alphabet by 0.5% in the 4th quarter. Capital International Investors now owns 4,337,057 shares of the information services provider’s stock worth $5,798,732,000 after purchasing an additional 22,290 shares in the last quarter. Geode Capital Management LLC raised its position in Alphabet by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 4,254,922 shares of the information services provider’s stock valued at $5,676,066,000 after purchasing an additional 91,374 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Alphabet by 0.6% during the first quarter. JPMorgan Chase & Co. now owns 3,707,376 shares of the information services provider’s stock valued at $4,310,974,000 after purchasing an additional 22,951 shares in the last quarter. 32.99% of the stock is owned by hedge funds and other institutional investors.

In related news, Director John L. Hennessy sold 60 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $1,363.61, for a total value of $81,816.60. Following the sale, the director now owns 592 shares in the company, valued at approximately $807,257.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 61 shares of Alphabet stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $1,098.26, for a total value of $66,993.86. Following the transaction, the chief accounting officer now owns 388 shares of the company’s stock, valued at approximately $426,124.88. The disclosure for this sale can be found here. Insiders have sold 325 shares of company stock worth $409,753 over the last ninety days. 12.99% of the stock is owned by insiders.

Shares of GOOG stock traded up $12.19 on Friday, reaching $1,428.92. 1,838,059 shares of the company were exchanged, compared to its average volume of 1,502,646. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. The company has a 50-day moving average of $1,324.33 and a 200-day moving average of $1,336.35. The company has a market cap of $975.41 billion, a price-to-earnings ratio of 28.84, a PEG ratio of 2.14 and a beta of 1.06. Alphabet Inc has a one year low of $1,013.54 and a one year high of $1,532.11.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing analysts’ consensus estimates of $11.27 by ($1.40). Alphabet had a return on equity of 17.43% and a net margin of 20.71%. The firm had revenue of $41.16 billion for the quarter, compared to analyst estimates of $40.29 billion. During the same period last year, the company posted $9.50 earnings per share. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, sell-side analysts predict that Alphabet Inc will post 41.47 EPS for the current year.

A number of research analysts recently issued reports on the stock. Susquehanna Bancshares raised their price objective on shares of Alphabet from $1,550.00 to $1,800.00 in a report on Wednesday, April 29th. UBS Group lifted their price target on shares of Alphabet from $1,530.00 to $1,600.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. BidaskClub raised shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Piper Sandler raised their target price on Alphabet from $1,500.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, Cowen upped their price target on Alphabet from $1,450.00 to $1,525.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $1,580.52.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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