Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Increased by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in Alphabet Inc. by 5.4% during the first quarter, now holding over 21 million shares, which accounts for 1.3% of its portfolio.
• Alphabet recently declared a quarterly dividend of $0.21 per share, with the ex-dividend date set for September 8th and a yield of 0.4%.
• Several analysts have raised their target prices for Alphabet stock, with Oppenheimer increasing its target to $235.00 from $220.00, reflecting a bullish outlook.

Deutsche Bank AG lifted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,345,784 shares of the information services provider's stock after acquiring an additional 1,098,996 shares during the quarter. Alphabet accounts for 1.3% of Deutsche Bank AG's portfolio, making the stock its 8th largest position. Deutsche Bank AG owned about 0.18% of Alphabet worth $3,334,852,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Roof Eidam Maycock Peralta LLC increased its stake in Alphabet by 3.0% in the 1st quarter. Roof Eidam Maycock Peralta LLC now owns 26,968 shares of the information services provider's stock worth $4,213,000 after buying an additional 785 shares during the period. Evolution Wealth Advisors LLC increased its position in shares of Alphabet by 6.1% during the first quarter. Evolution Wealth Advisors LLC now owns 62,326 shares of the information services provider's stock worth $9,737,000 after acquiring an additional 3,568 shares during the period. Coign Capital Advisors LLC increased its position in shares of Alphabet by 3.0% during the first quarter. Coign Capital Advisors LLC now owns 7,889 shares of the information services provider's stock worth $1,232,000 after acquiring an additional 229 shares during the period. ASR Vermogensbeheer N.V. bought a new stake in shares of Alphabet during the first quarter valued at approximately $78,721,000. Finally, Provident Investment Management Inc. lifted its holdings in shares of Alphabet by 0.3% in the 1st quarter. Provident Investment Management Inc. now owns 402,958 shares of the information services provider's stock worth $62,954,000 after buying an additional 1,310 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GOOG shares. Oppenheimer reiterated an "outperform" rating and issued a $235.00 target price (up previously from $220.00) on shares of Alphabet in a research note on Thursday, July 24th. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Scotiabank increased their target price on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 22nd. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Finally, BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $215.19.

Alphabet Trading Up 0.2%

NASDAQ GOOG traded up $0.36 on Thursday, reaching $197.28. The stock had a trading volume of 14,292,926 shares, compared to its average volume of 25,208,792. 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 stock has a fifty day moving average price of $181.28 and a two-hundred day moving average price of $174.68. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The firm has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 1.31 and a beta of 1.02.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter in the previous year, the business posted $1.89 earnings per share. The business's quarterly revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the transaction, the director owned 240,400 shares in the company, valued at $44,656,704. This represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 273,219 shares of company stock valued at $49,474,273 over the last quarter. Corporate insiders own 12.99% of the company's stock.

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.