J. Safra Sarasin Holding AG trimmed its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,537 shares of the information services provider's stock after selling 13,008 shares during the period. J. Safra Sarasin Holding AG's holdings in Alphabet were worth $16,644,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC increased its holdings in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after buying an additional 6,410 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in Alphabet by 4.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock worth $96,465,000 after acquiring an additional 20,855 shares during the last quarter. Proem Advisors LLC acquired a new position in Alphabet during the fourth quarter worth about $15,235,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Alphabet by 1.3% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 11,787 shares of the information services provider's stock valued at $2,245,000 after purchasing an additional 154 shares during the last quarter. Finally, Resolute Advisors LLC acquired a new position in shares of Alphabet in the 4th quarter worth approximately $688,000. Hedge funds and other institutional investors own 27.26% of the company's stock.
Alphabet Price Performance
Shares of GOOG traded down $2.91 during trading hours on Friday, reaching $189.95. The company had a trading volume of 21,211,425 shares, compared to its average volume of 25,077,368. The firm has a 50 day simple moving average of $179.37 and a 200-day simple moving average of $174.53. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.31 trillion, a price-to-earnings ratio of 20.23, a PEG ratio of 1.26 and a beta of 1.02. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results 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. 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 the consensus estimate of $93.67 billion. During the same period last year, the firm posted $1.89 EPS. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's payout ratio is 8.95%.
Insider Transactions at Alphabet
In other news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the sale, the chief executive officer owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,399 shares of company stock worth $43,525,794 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on GOOG shares. Scotiabank upped their price objective on shares of Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 22nd. Roth Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Piper Sandler restated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Needham & Company LLC downgraded shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Finally, Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $215.19.
Check Out Our Latest Analysis on GOOG
Alphabet Company 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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