Alkeon Capital Management LLC Has $807.62 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Alkeon Capital Management LLC holds approximately $807.62 million worth of shares in Alphabet Inc., representing about 1.7% of its portfolio.
• Alphabet has recently announced a quarterly dividend of $0.21 per share, with an expected yield of 0.4%.
• During the first quarter, several large investors, including Vanguard and Invesco, have increased their stakes in Alphabet, highlighting growing institutional interest in the company.

Alkeon Capital Management LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,222,558 shares of the information services provider's stock after selling 1,628 shares during the quarter. Alphabet accounts for about 1.7% of Alkeon Capital Management LLC's portfolio, making the stock its 6th biggest position. Alkeon Capital Management LLC's holdings in Alphabet were worth $807,616,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. Invesco Ltd. boosted its stake in Alphabet by 1.4% in the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock worth $6,749,806,000 after purchasing an additional 593,345 shares during the period. Deutsche Bank AG increased its holdings in Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock worth $6,153,481,000 after purchasing an additional 727,335 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Alphabet by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock valued at $5,962,389,000 after purchasing an additional 104,859 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Alphabet during the first quarter worth about $4,317,606,000. 40.03% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the transaction, the director owned 240,400 shares in the company, valued at $44,656,704. This trade represents a 5.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,710 shares of company stock valued at $47,225,230. Company insiders own 11.55% of the company's stock.

Alphabet Stock Up 0.6%

GOOGL opened at $212.91 on Tuesday. The stock has a fifty day moving average of $191.39 and a 200-day moving average of $174.16. The company has a market capitalization of $2.57 trillion, a P/E ratio of 22.67, a P/E/G ratio of 1.43 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $214.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Needham & Company LLC restated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research note on Thursday, August 21st. Stifel Nicolaus lifted their price target on shares of Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Morgan Stanley increased their price objective on shares of Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. BNP Paribas Exane reiterated a "neutral" rating and set a $172.00 target price on shares of Alphabet in a report on Friday, June 27th. Finally, KeyCorp raised their price target on Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.

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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