Deltec Asset Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,576 shares of the information services provider's stock after selling 3,091 shares during the quarter. Alphabet makes up 6.5% of Deltec Asset Management LLC's investment portfolio, making the stock its largest position. Deltec Asset Management LLC's holdings in Alphabet were worth $36,581,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Nuveen LLC acquired a new stake in shares of Alphabet during the 1st quarter worth about $4,317,606,000. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Alphabet by 307.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock worth $1,593,201,000 after purchasing an additional 7,774,811 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock worth $6,783,364,000 after purchasing an additional 4,473,901 shares during the last quarter. Finally, Amundi boosted its stake in shares of Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider's stock worth $5,034,992,000 after purchasing an additional 3,537,173 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have issued reports on GOOGL. Barclays raised their price target on shares of Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Mizuho set a $295.00 target price on shares of Alphabet and gave the stock an "outperform" rating in a research report on Monday, September 29th. KeyCorp raised their target price on shares of Alphabet from $230.00 to $265.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Needham & Company LLC raised their target price on shares of Alphabet from $220.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Finally, Tigress Financial raised their target price on shares of Alphabet from $240.00 to $280.00 and gave the stock a "strong-buy" rating in a research report on Friday, September 5th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $242.98.
Get Our Latest Research Report on Alphabet
Insider Buying and Selling at Alphabet
In other Alphabet news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred 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 transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the sale, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 over the last ninety days. Corporate insiders own 11.55% of the company's stock.
Alphabet Trading Down 1.9%
Shares of GOOGL stock opened at $245.76 on Wednesday. The stock has a market cap of $2.97 trillion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00. 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 fifty-two week low of $140.53 and a fifty-two week high of $256.00. The firm's 50 day moving average price is $223.41 and its two-hundred day moving average price is $187.13.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion for 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, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is 8.95%.
Alphabet Company Profile
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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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