Cooper Financial Group decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 62,208 shares of the information services provider's stock after selling 9,304 shares during the period. Alphabet accounts for about 1.3% of Cooper Financial Group's holdings, making the stock its 14th biggest position. Cooper Financial Group's holdings in Alphabet were worth $10,963,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Vanguard Group Inc. grew its holdings in Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 valued at $6,783,364,000 after buying an additional 4,473,901 shares during the period. Invesco Ltd. lifted its position in shares of Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock valued at $6,749,806,000 after buying an additional 593,345 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock worth $6,153,481,000 after acquiring an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock worth $5,962,389,000 after acquiring an additional 104,859 shares during the period. 40.03% of the stock is owned by institutional investors.
Insiders Place Their Bets
In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. The trade was a 1.27% 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, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock valued at $59,135,475 in the last quarter. Corporate insiders own 11.64% of the company's stock.
Alphabet Price Performance
NASDAQ:GOOGL opened at $250.43 on Tuesday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The stock has a fifty day moving average of $222.41 and a 200 day moving average of $186.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $3.03 trillion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 1.66 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders 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 yield of 0.3%. Alphabet's payout ratio is presently 8.95%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on GOOGL shares. JPMorgan Chase & Co. boosted their price objective on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, September 3rd. Citigroup upped their price target on shares of Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $201.00 price objective on shares of Alphabet in a research note on Wednesday, September 24th. Finally, Robert W. Baird boosted their target price on shares of Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $240.76.
View Our Latest Analysis on Alphabet
Alphabet 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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