Alphabet Inc. $GOOG Shares Acquired by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP increased its stake in Alphabet Inc. by 411.1% in Q1, owning 13,028 shares valued at approximately $2.03 million.
• Alphabet reported a quarterly revenue of $96.43 billion, surpassing expectations, and netted earnings per share (EPS) of $2.31, above the consensus estimate of $2.12.
• The company has announced a quarterly dividend of $0.21 per share to be paid on September 15th, with a current dividend yield of 0.4%.

Quantbot Technologies LP lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 411.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,028 shares of the information services provider's stock after buying an additional 10,479 shares during the period. Quantbot Technologies LP's holdings in Alphabet were worth $2,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after buying an additional 9,243,959 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after buying an additional 7,917,625 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Alphabet by 2.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,103,417 shares of the information services provider's stock valued at $6,494,655,000 after purchasing an additional 769,335 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Alphabet by 5.0% in the 4th quarter. Janus Henderson Group PLC now owns 30,827,999 shares of the information services provider's stock valued at $5,870,944,000 after purchasing an additional 1,467,805 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $200.62 on Friday. The company has a fifty day simple moving average of $187.09 and a two-hundred day simple moving average of $174.87. The company has a market cap of $2.43 trillion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 1.35 and a beta of 1.02. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70.

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

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's payout ratio is presently 8.95%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Pivotal Research lifted their target price on shares of Alphabet from $225.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, July 24th. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $215.19.

Insider Activity

In related news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director owned 6,916 shares of the company's stock, valued at approximately $1,383,200. The trade was a 12.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,719 shares of company stock worth $47,223,172. 12.99% of the stock is currently owned by company insiders.

Alphabet Company Profile

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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