Gemsstock Ltd. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 43.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 86,200 shares of the information services provider's stock after selling 66,800 shares during the period. Alphabet accounts for approximately 5.1% of Gemsstock Ltd.'s holdings, making the stock its 10th biggest position. Gemsstock Ltd.'s holdings in Alphabet were worth $13,467,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the period. JPMorgan Chase & Co. boosted its holdings in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. Capital International Investors boosted its holdings in Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after purchasing an additional 5,758,244 shares during the period. Northern Trust Corp boosted its holdings in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares during the period. Finally, Capital Research Global Investors boosted its holdings in Alphabet by 0.8% in the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after purchasing an additional 294,556 shares during the period. 27.26% of the stock is owned by institutional investors.
Insider Activity
In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 274,219 shares of company stock valued at $49,674,273. 12.99% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on GOOG. Oppenheimer reissued an "outperform" rating and issued a $235.00 price target (up from $220.00) on shares of Alphabet in a report on Thursday, July 24th. The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Raymond James Financial reaffirmed an "outperform" rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $215.19.
View Our Latest Research Report on Alphabet
Alphabet Price Performance
GOOG traded up $0.79 during midday trading on Thursday, hitting $203.82. The company had a trading volume of 17,605,944 shares, compared to its average volume of 24,009,111. 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 company has a market capitalization of $2.46 trillion, a PE ratio of 21.71, a P/E/G ratio of 1.36 and a beta of 1.02. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The firm's 50-day simple moving average is $183.93 and its 200-day simple moving average is $174.75.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.89 EPS. Equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Announces Dividend
The firm also recently announced 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. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.
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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