Gulf International Bank UK Ltd cut its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 26.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 286,175 shares of the information services provider's stock after selling 105,475 shares during the quarter. Alphabet makes up approximately 1.6% of Gulf International Bank UK Ltd's investment portfolio, making the stock its 7th largest holding. Gulf International Bank UK Ltd's holdings in Alphabet were worth $44,709,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Principia Wealth Advisory LLC raised its holdings in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet during the first quarter valued at about $26,000. LSV Asset Management acquired a new position in shares of Alphabet during the fourth quarter valued at about $27,000. Goodman Advisory Group LLC acquired a new position in shares of Alphabet during the first quarter valued at about $32,000. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet during the first quarter valued at about $32,000. 27.26% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00. Following the sale, the chief executive officer owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. This represents a 1.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director owned 6,916 shares in the company, valued at $1,383,200. This trade represents a 12.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 274,219 shares of company stock worth $49,674,273. 12.99% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
GOOG has been the topic of several recent analyst reports. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. UBS Group upped their price objective on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. Lake Street Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Westpark Capital restated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $215.19.
View Our Latest Stock Analysis on Alphabet
Alphabet Stock Performance
Alphabet stock traded up $0.79 during mid-day trading on Thursday, hitting $203.82. The company had a trading volume of 17,610,143 shares, compared to its average volume of 24,017,828. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company's fifty day moving average is $183.93 and its 200-day moving average is $174.75. The company has a market capitalization of $2.46 trillion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 1.36 and a beta of 1.02.
Alphabet (NASDAQ:GOOG - 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 $2.12 by $0.19. 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 $93.67 billion. During the same quarter in the prior year, the firm posted $1.89 EPS. The business's quarterly revenue was up 13.8% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.
Alphabet Company Profile
(
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.
Recommended Stories
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
MarketBeat All Access