Allianz SE Trims Position in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Allianz SE reduced its stake in Alphabet Inc. by 4.6% during the first quarter, owning 229,187 shares worth approximately $35.8 million, representing about 1% of its portfolio.
• In the fourth quarter, several investors, including FMR LLC and Northern Trust Corp, increased their holdings in Alphabet, demonstrating continued institutional interest in the stock.
• Alphabet recently declared a quarterly dividend of $0.21 per share, scheduled for payment on September 15, with a total annualized dividend yield of 0.4% based on current share prices.

Allianz SE cut its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,187 shares of the information services provider's stock after selling 11,102 shares during the period. Alphabet makes up 1.0% of Allianz SE's investment portfolio, making the stock its 19th biggest holding. Allianz SE's holdings in Alphabet were worth $35,806,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Concentrum Wealth Management lifted its position in shares of Alphabet by 0.3% during the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock valued at $3,300,000 after buying an additional 57 shares during the last quarter. JDM Financial Group LLC lifted its position in shares of Alphabet by 10.6% during the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock valued at $113,000 after buying an additional 57 shares during the last quarter. Objectivity Squared LLC lifted its position in shares of Alphabet by 0.4% during the first quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock valued at $2,605,000 after buying an additional 62 shares during the last quarter. Tranquility Partners LLC lifted its position in shares of Alphabet by 0.4% during the first quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider's stock valued at $2,263,000 after buying an additional 63 shares during the last quarter. Finally, Stonebridge Financial Group LLC increased its holdings in shares of Alphabet by 0.6% during the first quarter. Stonebridge Financial Group LLC now owns 10,648 shares of the information services provider's stock valued at $1,664,000 after acquiring an additional 64 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded up $5.80 during midday trading on Monday, reaching $195.75. 23,350,404 shares of the stock were exchanged, compared to its average volume of 26,139,204. The firm has a market cap of $2.37 trillion, a price-to-earnings ratio of 20.85, a PEG ratio of 1.26 and a beta of 1.02. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The firm has a 50-day simple moving average of $179.37 and a two-hundred day simple moving average of $174.39. 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 (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business's revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company earned $1.89 EPS. As a group, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GOOG. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. KeyCorp cut their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Finally, Barclays restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $215.19.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,399 shares of company stock worth $43,525,794 in the last quarter. 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.