Metropolis Capital Ltd cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 35.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,609,434 shares of the information services provider's stock after selling 880,205 shares during the period. Alphabet comprises approximately 10.7% of Metropolis Capital Ltd's holdings, making the stock its 3rd largest holding. Metropolis Capital Ltd's holdings in Alphabet were worth $293,158,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of GOOGL. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet in the 4th quarter valued at $30,000. Tributary Capital Management LLC bought a new position in Alphabet in the 1st quarter valued at $30,000. DiNuzzo Private Wealth Inc. bought a new position in Alphabet in the 4th quarter valued at $38,000. CarsonAllaria Wealth Management Ltd. boosted its position in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock valued at $44,000 after buying an additional 109 shares during the last quarter. Finally, Richardson Capital Management LLC boosted its position in Alphabet by 87.5% in the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider's stock valued at $45,000 after buying an additional 140 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.
Alphabet Stock Performance
Shares of NASDAQ:GOOGL traded up $0.54 during trading on Monday, reaching $166.16. 14,177,805 shares of the stock were exchanged, compared to its average volume of 27,879,766. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The firm has a market cap of $2.05 trillion, a PE ratio of 25.48, a PEG ratio of 1.28 and a beta of 1.05. The stock has a 50-day moving average price of $174.51 and a 200-day moving average price of $163.44. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the previous year, the business earned $1.44 earnings per share. Research analysts expect that Alphabet Inc. will post 7.62 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet's dividend payout ratio (DPR) is currently 12.27%.
Analysts Set New Price Targets
Several research firms have recently issued reports on GOOGL. TD Securities raised their price target on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Tigress Financial raised their price target on Alphabet from $176.00 to $210.00 and gave the stock a "strong-buy" rating in a research report on Friday, May 24th. Royal Bank of Canada raised their price target on Alphabet from $200.00 to $204.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 24th. Wedbush restated an "outperform" rating and issued a $205.00 price target on shares of Alphabet in a research report on Monday, July 22nd. Finally, Bank of America raised their price target on Alphabet from $200.00 to $206.00 and gave the stock a "buy" rating in a research report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $203.74.
View Our Latest Stock Report on GOOGL
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O'toole sold 682 shares of the company's stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares of the company's stock, valued at approximately $5,728,640.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 682 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares of the company's stock, valued at $5,209,888.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,565 shares of company stock valued at $26,823,893. 11.55% of the stock is currently owned by insiders.
About Alphabet
(
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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