ANTIPODES PARTNERS Ltd Has $180.46 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• ANTIPODES PARTNERS Ltd increased its stake in Alphabet Inc. by 12.2%, owning approximately 1,166,898 shares valued at $180,464,000, making it the firm's 4th largest holding.
• Numerous institutional investors, including FMR LLC and Norges Bank, have also boosted their Alphabet holdings, contributing to 40.03% of the stock being owned by institutional investors.
• Alphabet recently announced a quarterly dividend of $0.21 per share, representing an annualized yield of 0.4%, to be paid on September 15th.

ANTIPODES PARTNERS Ltd lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,166,898 shares of the information services provider's stock after purchasing an additional 126,539 shares during the period. Alphabet comprises 5.7% of ANTIPODES PARTNERS Ltd's investment portfolio, making the stock its 4th largest holding. ANTIPODES PARTNERS Ltd's holdings in Alphabet were worth $180,464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Guardian Wealth Management Inc. lifted its stake in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new position in Alphabet in the first quarter valued at approximately $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet in the first quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the first quarter valued at approximately $39,000. Finally, Elite Financial Inc. acquired a new position in Alphabet in the first quarter valued at approximately $42,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 target price on shares of Alphabet in a research report on Friday, June 27th. BMO Capital Markets upped their target price on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Susquehanna upped their target price on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Morgan Stanley upped their target price on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Finally, Truist Financial reiterated a "buy" rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $211.39.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was 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. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on 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 of the company's stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,399 shares of company stock valued at $43,525,794 in the last quarter. 11.64% of the stock is owned by company insiders.

Alphabet Stock Down 1.4%

NASDAQ:GOOGL traded down $2.77 during trading hours on Friday, reaching $189.13. 34,777,882 shares of the company traded hands, compared to its average volume of 38,669,572. The business's 50-day moving average price is $178.32 and its two-hundred day moving average price is $173.12. The stock has a market capitalization of $2.30 trillion, a P/E ratio of 20.14, a P/E/G ratio of 1.30 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. 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 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 paid a dividend of $0.21 per share. 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 payout ratio is presently 8.95%.

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.