Herbst Group LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,964 shares of the information services provider's stock after selling 1,775 shares during the period. Alphabet accounts for about 2.8% of Herbst Group LLC's portfolio, making the stock its 13th largest position. Herbst Group LLC's holdings in Alphabet were worth $4,752,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Alphabet by 2.9% during 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 acquiring an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock valued at $6,783,364,000 after acquiring an additional 4,473,901 shares during the period. Invesco Ltd. lifted its position in shares of Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock valued at $6,749,806,000 after acquiring an additional 593,345 shares during the period. Deutsche Bank AG lifted its position in shares of Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock valued at $6,153,481,000 after acquiring an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Alphabet by 0.3% during the 1st 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 period. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Stock Performance
NASDAQ GOOGL opened at $246.54 on Monday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year 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. The firm has a market cap of $2.98 trillion, a price-to-earnings ratio of 26.26, a PEG ratio of 1.66 and a beta of 1.01. The company has a fifty day moving average price of $215.93 and a 200-day moving average price of $183.28.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date 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%.
Analyst Ratings Changes
A number of analysts have commented on GOOGL shares. Piper Sandler boosted their price target on shares of Alphabet from $220.00 to $285.00 and gave the company an "overweight" rating in a research note on Thursday, September 18th. Rosenblatt Securities boosted their price target on shares of Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a research note on Wednesday, September 3rd. Citigroup boosted their price target on shares of Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Wedbush boosted their price target on shares of Alphabet from $225.00 to $245.00 and gave the company an "outperform" rating in a research note on Wednesday, September 3rd. Finally, Wall Street Zen lowered shares of Alphabet from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $233.44.
Read Our Latest Stock Report on GOOGL
Insider Transactions at Alphabet
In related news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 257,866 shares of company stock worth $52,363,610. 11.55% of the stock is owned by insiders.
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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