Alphabet Inc. $GOOGL Stake Decreased by Thematics Asset Management

Key Points

• Thematics Asset Management reduced its stake in Alphabet Inc. by 1.9% during the first quarter, leaving it with 241,101 shares worth approximately $37.28 million, making it the firm's 8th largest position.
• Alphabet has a market capitalization of $2.51 trillion and reported earnings per share (EPS) of $2.31 for the last quarter, surpassing analysts' estimates.
• The company announced a quarterly dividend of $0.21 per share, to be paid on September 15th, with an annual yield of 0.4%.

Thematics Asset Management cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 241,101 shares of the information services provider's stock after selling 4,662 shares during the period. Alphabet comprises approximately 1.9% of Thematics Asset Management's portfolio, making the stock its 8th biggest holding. Thematics Asset Management's holdings in Alphabet were worth $37,284,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Nia Impact Advisors LLC grew its holdings in Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after purchasing an additional 59 shares during the period. Enzi Wealth grew its holdings in Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after purchasing an additional 62 shares during the period. Whipplewood Advisors LLC grew its holdings in Alphabet by 1.2% during the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after purchasing an additional 67 shares during the period. Aspire Capital Advisors LLC lifted its position in shares of Alphabet by 1.0% during the first quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock worth $1,086,000 after acquiring an additional 67 shares in the last quarter. Finally, Rainey & Randall Wealth Advisors Inc. lifted its position in shares of Alphabet by 2.1% during the first quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock worth $496,000 after acquiring an additional 67 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Up 0.6%

Shares of GOOGL traded up $1.27 during trading hours on Friday, hitting $212.91. The company had a trading volume of 39,702,089 shares, compared to its average volume of 28,893,466. The firm has a market cap of $2.57 trillion, a P/E ratio of 22.67, a P/E/G ratio of 1.43 and a beta of 1.01. The stock's 50 day moving average price is $190.44 and its 200 day moving average price is $174.05. 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 $140.53 and a 52-week high of $214.65.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's payout ratio is currently 8.95%.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was 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 owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock worth $47,225,230 in the last ninety days. Corporate insiders own 11.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. BNP Paribas Exane restated a "neutral" rating and set a $172.00 target price on shares of Alphabet in a research report on Friday, June 27th. Morgan Stanley increased their price objective on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Bank of America increased their price objective on Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Susquehanna increased their price objective on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Finally, Barclays increased their price objective on Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $211.53.

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.