Ethic Inc. Has $87.23 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Ethic Inc. reduced its stake in Alphabet Inc. by 6.2%, making it the 5th largest position in their portfolio, valued at approximately $87 million.
• Institutional investors collectively own 40.03% of Alphabet, with significant increases from firms like Brandywine Global and Aberdeen Group during the first quarter of 2023.
• Alphabet declared a quarterly dividend of $0.21 per share, with an ex-dividend date set for September 8th, which represents an annual yield of 0.4%.

Ethic Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 555,326 shares of the information services provider's stock after selling 37,000 shares during the period. Alphabet accounts for approximately 1.8% of Ethic Inc.'s investment portfolio, making the stock its 5th biggest holding. Ethic Inc.'s holdings in Alphabet were worth $87,225,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Guardian Wealth Management Inc. grew its position in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in Alphabet during the first quarter worth approximately $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet during the first quarter worth approximately $28,000. NBZ Investment Advisors LLC grew its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet during the first quarter worth approximately $39,000. Institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

Shares of GOOGL stock traded up $6.34 during trading hours on Friday, reaching $206.09. The company's stock had a trading volume of 42,770,206 shares, compared to its average volume of 31,370,868. The firm's 50 day simple moving average is $186.81 and its 200-day simple moving average is $173.12. The company has a market capitalization of $2.49 trillion, a price-to-earnings ratio of 21.95, a PEG ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $208.54. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 firm had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 15,000 shares of the firm's stock in a transaction 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 sale, the director owned 240,400 shares of the company's stock, valued at $44,656,704. This trade represents a 5.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the sale, the director directly owned 6,316 shares in the company, valued at approximately $1,287,137.64. This trade represents a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,719 shares of company stock worth $47,223,172. Insiders own 11.55% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. BNP Paribas Exane reissued a "neutral" rating and set a $172.00 price target on shares of Alphabet in a research report on Friday, June 27th. Truist Financial reissued a "buy" rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, July 2nd. Bank of America increased their price target on Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Stifel Nicolaus increased their price target on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Finally, Needham & Company LLC reissued a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.

About Alphabet

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.