Sienna Gestion bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 229,801 shares of the information services provider's stock, valued at approximately $41,839,000. Alphabet makes up 3.7% of Sienna Gestion's portfolio, making the stock its 3rd largest position.
A number of other institutional investors also recently added to or reduced their stakes in GOOGL. Nebula Research & Development LLC bought a new stake in Alphabet during the fourth quarter worth approximately $787,000. New Hampshire Trust raised its stake in shares of Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider's stock worth $7,963,000 after buying an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. acquired a new stake in shares of Alphabet in the first quarter valued at $359,000. Schneider Downs Wealth Management Advisors LP boosted its stake in Alphabet by 58.4% during the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider's stock valued at $962,000 after buying an additional 2,351 shares in the last quarter. Finally, American International Group Inc. grew its holdings in Alphabet by 11.5% during the fourth quarter. American International Group Inc. now owns 1,951,860 shares of the information services provider's stock worth $272,655,000 after acquiring an additional 200,891 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.
Insider Activity at Alphabet
In other news, CAO Amie Thuener O'toole sold 682 shares of the company's stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company's stock, valued at approximately $5,264,112. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Amie Thuener O'toole sold 682 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company's stock, valued at approximately $5,264,112. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now owns 28,524 shares in the company, valued at $4,385,565. The disclosure for this sale can be found here. Insiders have sold a total of 217,592 shares of company stock valued at $35,922,911 in the last 90 days. 11.55% of the stock is owned by corporate insiders.
Alphabet Stock Performance
GOOGL stock traded down $1.13 during trading on Wednesday, reaching $165.86. 17,705,109 shares of the stock were exchanged, compared to its average volume of 27,479,340. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.05 trillion, a P/E ratio of 25.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The stock has a 50 day simple moving average of $162.08 and a 200-day simple moving average of $167.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping 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 firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the previous year, the company earned $1.44 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet's dividend payout ratio is 12.27%.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Evercore ISI reduced their target price on shares of Alphabet from $225.00 to $200.00 and set an "outperform" rating for the company in a report on Monday, September 16th. Wells Fargo & Company decreased their target price on Alphabet from $190.00 to $182.00 and set an "equal weight" rating on the stock in a report on Wednesday. BMO Capital Markets reaffirmed an "outperform" rating and set a $222.00 target price on shares of Alphabet in a report on Monday, September 16th. Jefferies Financial Group increased their price target on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Finally, JMP Securities restated a "market outperform" rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, September 25th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $201.14.
View Our Latest Stock Report on Alphabet
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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