Asset Management One Co. Ltd. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.1% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,421,991 shares of the information services provider's stock after selling 51,813 shares during the period. Alphabet comprises approximately 1.4% of Asset Management One Co. Ltd.'s holdings, making the stock its 8th largest holding. Asset Management One Co. Ltd.'s holdings in Alphabet were worth $401,687,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its holdings in Alphabet by 70.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider's stock valued at $15,279,000 after buying an additional 41,880 shares during the period. Quent Capital LLC raised its position in shares of Alphabet by 3.6% during the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider's stock valued at $4,705,000 after acquiring an additional 1,072 shares during the last quarter. Empowered Funds LLC raised its position in shares of Alphabet by 12.3% during the 1st quarter. Empowered Funds LLC now owns 187,840 shares of the information services provider's stock valued at $28,351,000 after acquiring an additional 20,572 shares during the last quarter. Sustainable Insight Capital Management LLC lifted its stake in shares of Alphabet by 146.4% in the 1st quarter. Sustainable Insight Capital Management LLC now owns 8,920 shares of the information services provider's stock valued at $1,346,000 after purchasing an additional 5,300 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its position in shares of Alphabet by 2.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 513,406 shares of the information services provider's stock worth $77,488,000 after purchasing an additional 11,837 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Performance
Shares of Alphabet stock traded down $3.09 during mid-day trading on Friday, hitting $172.49. 32,504,649 shares of the stock were exchanged, compared to its average volume of 27,756,214. The company has a market capitalization of $2.11 trillion, a P/E ratio of 22.88, a P/E/G ratio of 1.23 and a beta of 1.03. 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 company has a 50-day simple moving average of $165.61 and a 200 day simple moving average of $170.18. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the company posted $1.55 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet's dividend payout ratio (DPR) is currently 10.61%.
Insider Activity at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now owns 319,966 shares of the company's stock, valued at approximately $56,765,168.06. The trade was a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 682 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company's stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,795 shares of company stock worth $34,471,141. 11.55% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on GOOGL shares. Roth Mkm upped their price target on Alphabet from $206.00 to $212.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Piper Sandler reaffirmed an "overweight" rating and issued a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Evercore ISI boosted their price target on shares of Alphabet from $200.00 to $205.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Sanford C. Bernstein raised their price objective on Alphabet from $180.00 to $185.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 30th. Finally, Rosenblatt Securities reissued a "neutral" rating and issued a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $205.90.
Check Out Our Latest Stock Analysis on GOOGL
Alphabet Company Profile
(
Free Report)
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.
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