DoubleLine ETF Adviser LP Has $6.56 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• DoubleLine ETF Adviser LP reduced its shares in Alphabet Inc. by 26.9%, owning 42,436 shares worth approximately $6.56 million after selling 15,595 shares in the first quarter.
• Several institutional investors, including Vanguard Group and Invesco, have increased their stakes in Alphabet, indicating strong ongoing interest in the company.
• Alphabet will pay a quarterly dividend of $0.21 on September 15, reflecting a 0.4% yield with a dividend payout ratio of 8.95%.

DoubleLine ETF Adviser LP decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 26.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,436 shares of the information services provider's stock after selling 15,595 shares during the quarter. Alphabet makes up 2.2% of DoubleLine ETF Adviser LP's investment portfolio, making the stock its 7th biggest holding. DoubleLine ETF Adviser LP's holdings in Alphabet were worth $6,562,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. Vanguard Group Inc. grew its position in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Alphabet by 1.4% in the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock worth $6,749,806,000 after acquiring an additional 593,345 shares during the period. Deutsche Bank AG lifted its stake in shares of Alphabet by 1.9% in the first 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. Charles Schwab Investment Management Inc. boosted its holdings in Alphabet by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock valued at $5,962,389,000 after acquiring an additional 104,859 shares during the last quarter. Finally, Amundi increased its position in Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider's stock valued at $5,034,992,000 after purchasing an additional 3,537,173 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the transaction, the director directly owned 240,400 shares of the company's stock, valued at $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total value of $6,497,400.00. Following the completion of the transaction, the chief executive officer owned 2,462,392 shares in the company, valued at approximately $492,281,408.64. This represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 222,210 shares of company stock worth $41,742,155. Insiders own 11.55% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $230.66 on Thursday. The firm has a market capitalization of $2.79 trillion, a P/E ratio of 24.56, a P/E/G ratio of 1.43 and a beta of 1.01. The firm's 50-day moving average price is $193.49 and its 200-day moving average price is $174.80. 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 1-year low of $140.53 and a 1-year high of $231.31.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results 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. 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. Equities research analysts anticipate 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 will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GOOGL shares. Piper Sandler raised their price target on shares of Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Morgan Stanley upped their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Finally, Citigroup reissued an "outperform" rating on shares of Alphabet in a research report on Wednesday. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $221.31.

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.

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