183,385 Shares in Alphabet Inc. $GOOG Bought by AG2R LA Mondiale Gestion D Actifs

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired 183,385 shares of Alphabet Inc. valued at approximately $31.7 million, making it the fund's 8th largest holding.
• Alphabet reported $2.31 EPS for the last quarter, exceeding estimates, with revenue of $96.43 billion, marking a year-over-year increase of 13.8%.
• Recent analyst ratings show a consensus of "Moderate Buy" with a target price of $227.56, reflecting continued positive sentiment about the stock's prospects.

AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 183,385 shares of the information services provider's stock, valued at approximately $31,698,000. Alphabet accounts for about 1.8% of AG2R LA Mondiale Gestion D Actifs' holdings, making the stock its 8th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. JDM Financial Group LLC raised its holdings in Alphabet by 10.6% in the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock worth $113,000 after purchasing an additional 57 shares in the last quarter. NCM Capital Management LLC boosted its position in Alphabet by 2.2% in the 1st quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider's stock worth $438,000 after purchasing an additional 60 shares in the last quarter. Faithward Advisors LLC boosted its position in Alphabet by 2.5% in the 1st quarter. Faithward Advisors LLC now owns 2,505 shares of the information services provider's stock worth $391,000 after purchasing an additional 61 shares in the last quarter. Objectivity Squared LLC lifted its position in shares of Alphabet by 0.4% during the 1st quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock valued at $2,605,000 after buying an additional 62 shares in the last quarter. Finally, Tranquility Partners LLC lifted its position in shares of Alphabet by 0.4% during the 1st quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider's stock valued at $2,263,000 after buying an additional 63 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent research reports. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Barclays reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. JPMorgan Chase & Co. boosted their target price on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. The Goldman Sachs Group reiterated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. Finally, Pivotal Research boosted their target price on Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $227.56.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $240.78 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $201.45 and a two-hundred day moving average price of $178.39. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $242.57. The firm has a market cap of $2.91 trillion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter last year, the business posted $1.89 EPS. The business's revenue was up 13.8% on a year-over-year basis. Sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares of the company's stock, valued at $1,287,137.64. This represents a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock worth $49,208,380 in the last ninety days. Company insiders own 12.99% of the company's stock.

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.

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