Maryland State Retirement & Pension System lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 281,932 shares of the information services provider's stock after purchasing an additional 6,542 shares during the quarter. Alphabet accounts for approximately 1.1% of Maryland State Retirement & Pension System's portfolio, making the stock its 14th largest holding. Maryland State Retirement & Pension System's holdings in Alphabet were worth $49,685,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. grew its stake in Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after acquiring an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Alphabet by 11.4% in 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 valued at $6,783,364,000 after acquiring an additional 4,473,901 shares during the period. Invesco Ltd. grew 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 valued at $6,749,806,000 after acquiring an additional 593,345 shares during the period. Deutsche Bank AG grew its stake in Alphabet by 1.9% in the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock valued at $6,153,481,000 after acquiring an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in 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 acquiring an additional 104,859 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.
Insider Buying and Selling at Alphabet
In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company's stock, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock valued at $55,805,379 over the last 90 days. 11.64% of the stock is owned by insiders.
Alphabet Stock Up 0.7%
NASDAQ GOOGL opened at $253.30 on Friday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.96. 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's fifty day simple moving average is $231.55 and its 200-day simple moving average is $191.61. The firm has a market cap of $3.06 trillion, a PE ratio of 26.98, a P/E/G ratio of 1.70 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL - 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 $2.15 by $0.16. 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 analyst estimates of $93.60 billion. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio is presently 8.95%.
Wall Street Analyst Weigh In
GOOGL has been the topic of a number of research reports. Truist Financial raised their price objective on Alphabet from $225.00 to $285.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Barclays raised their price objective on Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Tigress Financial raised their price objective on Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a report on Friday, September 5th. Westpark Capital raised their price objective on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Roth Capital raised their price objective on Alphabet from $210.00 to $265.00 and gave the company a "buy" rating in a report on Thursday. Four 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $252.24.
Get Our Latest Stock Report on GOOGL
About Alphabet
(
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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