Alphabet Inc. (NASDAQ:GOOGL) is PKO Investment Management Joint Stock Co's 9th Largest Position

PKO Investment Management Joint Stock Co increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 93.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,000 shares of the information services provider's stock after purchasing an additional 70,000 shares during the quarter. Alphabet makes up 2.5% of PKO Investment Management Joint Stock Co's portfolio, making the stock its 9th biggest holding. PKO Investment Management Joint Stock Co's holdings in Alphabet were worth $22,423,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rockbridge Capital Management LLC bought a new stake in Alphabet in the 4th quarter valued at $3,119,000. Optivise Advisory Services LLC grew its position in shares of Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after purchasing an additional 403 shares in the last quarter. Community Bank N.A. grew its position in shares of Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after purchasing an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd increased its holdings in shares of Alphabet by 30.0% in the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock worth $11,816,000 after purchasing an additional 14,262 shares during the last quarter. Finally, Absolute Capital Management LLC lifted its position in shares of Alphabet by 14.0% in the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after buying an additional 258 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOOGL. Piper Sandler raised their price target on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Citigroup increased their target price on Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Bank of America boosted their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Jefferies Financial Group lowered their price objective on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.75.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 11,764 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,570 shares of company stock valued at $32,003,532. 11.64% of the stock is currently owned by insiders.

Alphabet Trading Down 3.9%

Shares of NASDAQ GOOGL traded down $6.68 during mid-day trading on Friday, reaching $166.64. The company had a trading volume of 75,073,701 shares, compared to its average volume of 30,656,043. The stock has a market cap of $2.02 trillion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The business's 50-day moving average is $164.58 and its 200-day moving average is $174.75.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the company earned $1.89 EPS. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's payout ratio is presently 9.36%.

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.