Alphabet Inc. (NASDAQ:GOOGL) is Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group's Largest Position

Key Points

• Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group increased its stake in Alphabet Inc. by 101.4% in the first quarter, holding 65,540 shares, making it the company’s largest position at approximately $10.1 million.
• Several analysts have recently upgraded their price targets for Alphabet, with Citigroup raising it from $203 to $225 and Guggenheim from $190 to $210, while maintaining buy ratings, suggesting strong market confidence.
• Alphabet announced a quarterly dividend of $0.21 per share to be paid on September 15th, reflecting a dividend yield of 0.43% and a payout ratio of 8.95%.

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 101.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,540 shares of the information services provider's stock after buying an additional 33,000 shares during the period. Alphabet makes up 5.5% of Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group's holdings, making the stock its biggest position. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group's holdings in Alphabet were worth $10,135,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Mystic Asset Management Inc. lifted its stake in shares of Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after acquiring an additional 1,791 shares during the period. Harbour Trust & Investment Management Co grew its stake in Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares during the period. Rockbridge Capital Management LLC bought a new stake in shares of Alphabet during the 4th quarter worth $3,119,000. Cypress Capital LLC boosted its holdings in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after buying an additional 563 shares during the last quarter. Finally, Optivise Advisory Services LLC grew its position in 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 buying an additional 403 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 0.5%

Shares of GOOGL stock traded up $1.01 during trading on Friday, hitting $193.18. 39,738,342 shares of the stock traded hands, compared to its average volume of 41,427,228. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.77. The firm's fifty day moving average price is $175.77 and its 200-day moving average price is $172.93. The firm has a market capitalization of $2.34 trillion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the firm earned $1.89 EPS. As a group, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent research reports. JMP Securities increased their target price on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Thursday. Needham & Company LLC upped their target price on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday. Truist Financial reiterated a "buy" rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, July 2nd. Westpark Capital increased their price objective on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Oppenheimer increased their price objective on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $211.32.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction 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 completion of the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $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 sold 249,409 shares of company stock valued at $43,523,710 in the last 90 days. Company insiders own 11.64% of the company's stock.

Alphabet 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.