AMI Asset Management Corp Has $86.50 Million Stock Position in Alphabet Inc. $GOOGL

AMI Asset Management Corp lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 490,850 shares of the information services provider's stock after selling 27,413 shares during the period. Alphabet makes up approximately 4.9% of AMI Asset Management Corp's investment portfolio, making the stock its 4th largest position. AMI Asset Management Corp's holdings in Alphabet were worth $86,503,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in GOOGL. Nuveen LLC acquired a new position in Alphabet during the first quarter valued at approximately $4,317,606,000. Vanguard Group Inc. grew its stake in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Alphabet by 307.6% in the first quarter. Assenagon Asset Management S.A. now owns 10,302,644 shares of the information services provider's stock worth $1,593,201,000 after purchasing an additional 7,774,811 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock worth $6,783,364,000 after purchasing an additional 4,473,901 shares during the last quarter. Finally, Amundi boosted its position in Alphabet by 11.8% during the first quarter. Amundi now owns 33,403,871 shares of the information services provider's stock valued at $5,034,992,000 after acquiring an additional 3,537,173 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock worth $59,135,475 over the last 90 days. 11.64% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $244.62 on Thursday. The company has a market cap of $2.96 trillion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The company has a 50-day moving average price of $224.37 and a 200-day moving average price of $187.53. 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 $140.53 and a 12 month high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's payout ratio is currently 8.95%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GOOGL. Rosenblatt Securities increased their price objective on shares of Alphabet from $191.00 to $224.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 3rd. Westpark Capital increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Melius Research increased their price objective on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Needham & Company LLC raised their price target on shares of Alphabet from $220.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Finally, Susquehanna raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research note on Thursday, July 24th. Five analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $242.98.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.