Alphabet Inc. $GOOGL Shares Sold by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR reduced its stake in Alphabet Inc. by 12.6% during the second quarter, resulting in ownership of 493,173 shares valued at approximately $86.9 million.
• Several other institutional investors, including Nuveen LLC and Vanguard Group Inc., have recently increased their holdings in Alphabet, reflecting a growing interest in the company.
• Alphabet's shares recently opened at $259.92, with research firms projecting price targets ranging from $260 to $315, indicating a consensus rating of "Moderate Buy."

Generali Asset Management SPA SGR lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 493,173 shares of the information services provider's stock after selling 70,930 shares during the period. Alphabet makes up 2.0% of Generali Asset Management SPA SGR's portfolio, making the stock its 5th biggest position. Generali Asset Management SPA SGR's holdings in Alphabet were worth $86,912,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GOOGL. Nuveen LLC bought a new stake in Alphabet during the first quarter worth about $4,317,606,000. Vanguard Group Inc. grew its stake in 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 buying an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Alphabet by 11.4% during the first 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 buying an additional 4,473,901 shares during the last quarter. Amundi grew its stake in Alphabet by 11.8% during the first quarter. Amundi now owns 33,403,871 shares of the information services provider's stock worth $5,034,992,000 after buying an additional 3,537,173 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. grew its stake in Alphabet by 178.3% during the first quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider's stock worth $619,163,000 after buying an additional 2,565,400 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

GOOGL has been the topic of several research analyst reports. Oppenheimer upped their price objective on shares of Alphabet from $270.00 to $300.00 and gave the stock an "outperform" rating in a research note on Monday, October 20th. HSBC began coverage on shares of Alphabet in a research note on Tuesday, October 7th. They set a "buy" rating and a $285.00 price objective on the stock. CIBC increased their price target on shares of Alphabet to $315.00 in a research note on Monday, October 20th. Sanford C. Bernstein increased their price target on shares of Alphabet from $210.00 to $260.00 and gave the company a "market perform" rating in a research note on Wednesday. Finally, Hsbc Global Res raised shares of Alphabet to a "strong-buy" rating in a research note on Tuesday, October 7th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $263.55.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 over the last three months. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of GOOGL stock opened at $259.92 on Friday. The firm's 50 day moving average price is $236.72 and its two-hundred day moving average price is $195.60. The stock has a market cap of $3.14 trillion, a PE ratio of 27.68, a PEG ratio of 1.75 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $261.68. 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 announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The company 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%. As a group, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet 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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