Cooper Investors PTY Ltd. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 36.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,712 shares of the information services provider's stock after selling 41,517 shares during the period. Alphabet comprises approximately 2.3% of Cooper Investors PTY Ltd.'s portfolio, making the stock its 14th largest position. Cooper Investors PTY Ltd.'s holdings in Alphabet were worth $12,638,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC raised its stake in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after buying an additional 506 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Alphabet during the 4th quarter valued at about $321,000. Vermillion Wealth Management Inc. acquired a new position in Alphabet during the 4th quarter worth approximately $223,000. Finally, Putney Financial Group LLC purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $7,790,000. 40.03% of the stock is owned by hedge funds and other institutional investors.
Alphabet Stock Down 0.9%
GOOGL stock traded down $2.19 during midday trading on Monday, hitting $252.53. The stock had a trading volume of 32,240,768 shares, compared to its average volume of 38,953,800. The firm has a market cap of $3.05 trillion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. The business has a 50-day moving average of $209.36 and a two-hundred day moving average of $180.41. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. 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 announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is currently 8.95%.
Insiders Place Their Bets
In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares in the company, valued at $1,425,799.04. This trade represents a 9.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 258,088 shares of company stock worth $52,405,304. 11.55% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several equities research analysts have recently commented on GOOGL shares. Oppenheimer reissued an "outperform" rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. lifted their price target on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Piper Sandler lifted their target price on shares of Alphabet from $220.00 to $285.00 and gave the stock an "overweight" rating in a report on Thursday. BMO Capital Markets boosted their price objective on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Westpark Capital raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $231.31.
View Our Latest Research Report on Alphabet
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.
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