Deutsche Bank AG increased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,792,300 shares of the information services provider's stock after purchasing an additional 727,335 shares during the period. Alphabet makes up 2.4% of Deutsche Bank AG's portfolio, making the stock its 4th biggest position. Deutsche Bank AG owned about 0.33% of Alphabet worth $6,153,481,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the business. Eagle Capital Management LLC increased its holdings in shares of Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after buying an additional 371 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after buying an additional 506 shares in the last quarter. Highview Capital Management LLC DE increased its holdings in shares of Alphabet by 3.6% during the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after buying an additional 1,003 shares in the last quarter. Finally, Hudson Value Partners LLC increased its holdings in shares of Alphabet by 22.7% during the fourth quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock worth $13,873,000 after buying an additional 13,564 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Insider Activity at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 274,219 shares of company stock worth $49,674,273. Insiders own 11.64% of the company's stock.
Analysts Set New Price Targets
Several analysts have recently weighed in on GOOGL shares. Cantor Fitzgerald raised their price objective on shares of Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Citizens Jmp raised shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a research note on Friday, June 27th. Wedbush increased their price target on shares of Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Citigroup increased their price target on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, JMP Securities increased their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a research note on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $211.53.
Get Our Latest Stock Report on GOOGL
Alphabet Stock Down 0.7%
Alphabet stock opened at $201.96 on Thursday. The firm has a market capitalization of $2.44 trillion, a PE ratio of 21.51, a P/E/G ratio of 1.37 and a beta of 1.01. The company's 50-day moving average is $182.95 and its 200-day moving average is $173.22. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two 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 1.90.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio is 8.95%.
About Alphabet
(
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.
Further Reading
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).
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