Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,414,653 shares of the information services provider's stock after selling 14,891 shares during the period. Alphabet makes up approximately 8.5% of Commerzbank Aktiengesellschaft FI's investment portfolio, making the stock its 2nd biggest holding. Commerzbank Aktiengesellschaft FI's holdings in Alphabet were worth $257,679,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. CarsonAllaria Wealth Management Ltd. lifted its position in Alphabet by 39.6% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 409 shares of the information services provider's stock valued at $75,000 after buying an additional 116 shares during the last quarter. Vance Wealth Inc. raised its holdings in Alphabet by 4.0% during the second quarter. Vance Wealth Inc. now owns 3,089 shares of the information services provider's stock worth $563,000 after purchasing an additional 119 shares in the last quarter. Focus Financial Network Inc. lifted its stake in shares of Alphabet by 3.4% in the second quarter. Focus Financial Network Inc. now owns 87,527 shares of the information services provider's stock valued at $15,844,000 after purchasing an additional 2,905 shares during the period. Hobbs Group Advisors LLC purchased a new stake in Alphabet during the second quarter worth $1,442,000. Finally, BigSur Wealth Management LLC raised its position in shares of Alphabet by 136.8% during the 2nd quarter. BigSur Wealth Management LLC now owns 26,140 shares of the information services provider's stock worth $4,761,000 after purchasing an additional 15,100 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Amie Thuener O'toole sold 682 shares of the business's stock in a transaction that occurred on Monday, June 3rd. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Amie Thuener O'toole sold 682 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares of the company's stock, valued at approximately $5,209,888.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm's stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the transaction, the chief executive officer now directly owns 2,235,511 shares of the company's stock, valued at approximately $394,746,532.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,565 shares of company stock valued at $26,823,893. Insiders own 11.55% of the company's stock.

Alphabet Price Performance

Shares of GOOGL stock traded down $1.48 during trading on Tuesday, hitting $164.68. The company had a trading volume of 11,793,578 shares, compared to its average volume of 27,782,424. The stock's 50-day moving average is $174.51 and its two-hundred day moving average is $163.44. The stock has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data 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 return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analysts' expectations of $70.60 billion. During the same period last year, the firm posted $1.44 EPS. As a group, analysts predict 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. Investors of record on Monday, September 9th will be issued 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 0.49%. Alphabet's dividend payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Argus lifted their price target on shares of Alphabet from $200.00 to $215.00 and gave the company a "buy" rating in a research report on Tuesday, July 16th. Piper Sandler increased their price objective on shares of Alphabet from $200.00 to $206.00 and gave the stock an "overweight" rating in a report on Wednesday, July 24th. Roth Mkm raised their price objective on shares of Alphabet from $202.00 to $206.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Loop Capital reissued a "hold" rating and set a $170.00 target price on shares of Alphabet in a research note on Wednesday, July 3rd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research report on Wednesday, August 14th. Six research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $203.74.

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.