Global X Japan Co. Ltd. Has $27.85 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Global X Japan Co. Ltd. reduced its holdings in Alphabet Inc. (GOOGL) by 7.6% in Q2, now owning approximately $27.85 million worth of shares, making it the firm's 12th largest investment.
• Multiple analysts have increased their price targets on Alphabet, with Barclays raising it to $250 and KeyCorp to $265, reflecting strong investor sentiment with an overall consensus rating of "Moderate Buy."
• Insider trading activity included CEO Sundar Pichai selling 32,500 shares worth about $7.47 million, leading to a 1.32% decrease in his ownership, while insiders have sold a total of 258,088 shares valued at over $52 million in the last three months.

Global X Japan Co. Ltd. cut its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,053 shares of the information services provider's stock after selling 13,052 shares during the period. Alphabet accounts for approximately 2.8% of Global X Japan Co. Ltd.'s investment portfolio, making the stock its 12th biggest holding. Global X Japan Co. Ltd.'s holdings in Alphabet were worth $27,854,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. boosted its stake in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares during the last quarter. IMA Advisory Services Inc. acquired a new position in Alphabet during the 1st quarter valued at about $28,000. von Borstel & Associates Inc. acquired a new position in Alphabet during the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC boosted its stake in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet during the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GOOGL shares. Barclays lifted their price target on Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. KeyCorp boosted their target price on Alphabet from $230.00 to $265.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Bank of America boosted their target price on Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Cantor Fitzgerald boosted their target price on Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, Truist Financial boosted their target price on Alphabet from $225.00 to $285.00 and gave the stock a "buy" rating in a research note on Monday. Three analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $231.31.

Alphabet Trading Down 0.9%

Alphabet stock opened at $252.53 on Tuesday. The stock has a market cap of $3.05 trillion, a P/E ratio of 26.89, a PEG ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The firm's fifty day moving average price is $210.78 and its 200-day moving average price is $180.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

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, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. 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 declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio is presently 8.95%.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company'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 $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% 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. Company insiders own 11.55% of the company's stock.

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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