J. Safra Sarasin Holding AG Has $135.26 Million Stock Position in Alphabet Inc. $GOOGL

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Alphabet Inc. by 1.5%, now holding 766,712 shares valued at approximately $135.26 million.
• Alphabet recently reported an earnings per share (EPS) of $2.31 for the latest quarter, surpassing estimates, with a total revenue of $96.43 billion.
• The company announced a quarterly dividend of $0.21 per share, translating to an annual yield of 0.3% and a dividend payout ratio of 8.95%.

J. Safra Sarasin Holding AG cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 766,712 shares of the information services provider's stock after selling 11,366 shares during the quarter. Alphabet makes up approximately 2.3% of J. Safra Sarasin Holding AG's holdings, making the stock its 4th biggest position. J. Safra Sarasin Holding AG's holdings in Alphabet were worth $135,264,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GOOGL. Missouri Trust & Investment Co boosted its position in shares of Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider's stock worth $2,981,000 after acquiring an additional 55 shares during the last quarter. AM Investment Strategies LLC lifted its holdings in shares of Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider's stock worth $1,141,000 after acquiring an additional 57 shares during the last quarter. Bfsg LLC lifted its stake in Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider's stock worth $1,838,000 after purchasing an additional 59 shares during the last quarter. Enzi Wealth lifted its position in shares of Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after purchasing an additional 62 shares during the last quarter. Finally, Powers Advisory Group LLC raised its stake in shares of Alphabet by 1.8% during the second quarter. Powers Advisory Group LLC now owns 3,562 shares of the information services provider's stock valued at $628,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Down 1.3%

NASDAQ:GOOGL opened at $241.53 on Friday. The stock's fifty day moving average is $225.37 and its two-hundred day moving average is $188.04. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly 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. The business 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%. Research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors 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 yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Citizens Jmp boosted their price target on shares of Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a report on Friday, September 19th. Cantor Fitzgerald reissued a "neutral" rating and issued a $201.00 target price on shares of Alphabet in a research report on Wednesday, September 24th. Susquehanna increased their price target on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. BNP Paribas Exane restated a "neutral" rating and set a $172.00 price target on shares of Alphabet in a research report on Friday, June 27th. Finally, Roth Capital lifted their price target on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Five investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $244.62.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the firm's stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 953 shares of Alphabet stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock valued at $59,135,475 over the last 90 days. 11.64% of the stock is currently owned by corporate insiders.

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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