Commerzbank Aktiengesellschaft FI raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,671,841 shares of the information services provider's stock after acquiring an additional 162,551 shares during the period. Alphabet accounts for about 6.0% of Commerzbank Aktiengesellschaft FI's holdings, making the stock its 2nd biggest position. Commerzbank Aktiengesellschaft FI's holdings in Alphabet were worth $258,533,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Perritt Capital Management Inc boosted its holdings in Alphabet by 10.4% during the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after buying an additional 58 shares in the last quarter. Nia Impact Advisors LLC boosted its holdings in Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after buying an additional 59 shares in the last quarter. Hanlon Investment Management Inc. boosted its stake in Alphabet by 1.7% in the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock worth $673,000 after purchasing an additional 60 shares during the period. Enzi Wealth boosted its stake in Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after purchasing an additional 62 shares during the period. Finally, Whipplewood Advisors LLC boosted its stake in Alphabet by 1.2% in the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after purchasing an additional 67 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet 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 completion of the transaction, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 400 shares of Alphabet stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the sale, the director owned 6,013 shares of the company's stock, valued at $1,094,245.74. This represents a 6.24% 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 quarter. Company insiders own 11.64% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on GOOGL shares. Citigroup increased their target price on shares of Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday. Guggenheim raised their price target on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday. Roth Capital lifted their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday. UBS Group raised their price target on shares of Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $211.32.
View Our Latest Research Report on Alphabet
Alphabet Stock Up 0.5%
GOOGL traded up $1.01 during midday trading on Friday, hitting $193.18. The company had a trading volume of 39,738,342 shares, 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 quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.33 and a beta of 1.00. The stock's 50 day moving average price is $175.77 and its 200 day moving average price is $173.08.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. During the same quarter in the prior year, the business earned $1.89 earnings per share. On average, research analysts anticipate 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. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet's dividend payout ratio (DPR) is 8.95%.
Alphabet Company Profile
(
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.
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