Alphabet Inc. $GOOGL is MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s 9th Largest Position

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has increased its stake in Alphabet Inc. by 8.6%, making Alphabet its 9th largest position with a valuation of $513.57 million.
• Several large investors, including Mystic Asset Management and Bridgeway Capital Management, have also increased their positions in Alphabet, indicating strong institutional interest in the company.
• Alphabet declared a quarterly dividend of $0.21, representing an annualized yield of 0.4%, with a dividend payout ratio of 8.95%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,321,859 shares of the information services provider's stock after purchasing an additional 263,134 shares during the quarter. Alphabet makes up approximately 1.2% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s investment portfolio, making the stock its 9th largest position. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Alphabet were worth $513,570,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mystic Asset Management Inc. increased its position in shares of Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after purchasing an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co grew its holdings in Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after buying an additional 80 shares in the last quarter. Rockbridge Capital Management LLC purchased a new stake in Alphabet in the 4th quarter valued at $3,119,000. Cypress Capital LLC grew its holdings in Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after buying an additional 563 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock valued at $13,637,000 after buying an additional 13,371 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 600 shares of the 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 sale, the director owned 6,316 shares of the company's stock, valued at $1,287,137.64. This trade represents a 8.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 222,210 shares of company stock worth $41,742,155 over the last 90 days. 11.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GOOGL has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Alphabet in a report on Wednesday. JPMorgan Chase & Co. upped their target price on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Canaccord Genuity Group upped their target price on Alphabet from $230.00 to $270.00 and gave the company a "buy" rating in a report on Thursday. Rosenblatt Securities increased their price target on Alphabet from $191.00 to $224.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Stifel Nicolaus increased their price target on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $221.31.

Alphabet Price Performance

GOOGL opened at $232.30 on Friday. The stock's 50-day moving average price is $194.66 and its 200 day moving average price is $175.13. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $232.37. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.81 trillion, a price-to-earnings ratio of 24.74, a PEG ratio of 1.55 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its 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 $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared 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 of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

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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