Korea Investment CORP Has $701.89 Million Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Korea Investment CORP currently holds $701.89 million in Alphabet Inc. stock, representing 1.7% of its total portfolio, after a 0.2% reduction in shares during the 1st quarter.
• Several large investors have increased their stakes in Alphabet, with Vanguard Group boosting its holdings by 2.9%, now owning approximately $78.84 billion worth of shares.
• Alphabet's recent quarterly earnings report showed an EPS of $2.31, beating analysts' expectations, with total revenue of $96.43 billion for the quarter.

Korea Investment CORP cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,538,844 shares of the information services provider's stock after selling 10,421 shares during the quarter. Alphabet accounts for 1.7% of Korea Investment CORP's portfolio, making the stock its 6th largest holding. Korea Investment CORP's holdings in Alphabet were worth $701,887,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake 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 worth $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after acquiring an additional 9,042,271 shares in the last quarter. Invesco Ltd. boosted its stake 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 worth $6,749,806,000 after acquiring an additional 593,345 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Alphabet by 1.9% in the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock valued at $6,153,481,000 after purchasing an additional 727,335 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,719 shares of company stock valued at $47,223,172. Company insiders own 11.64% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research analyst reports. DA Davidson increased their target price on Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a report on Friday, June 27th. BMO Capital Markets increased their target price on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Sanford C. Bernstein increased their target price on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Finally, Truist Financial reiterated a "buy" rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $211.53.

Alphabet Trading Up 3.2%

Alphabet stock opened at $206.09 on Friday. 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 business's 50-day simple moving average is $186.81 and its 200-day simple moving average is $173.37. The firm has a market capitalization of $2.49 trillion, a PE ratio of 21.95, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $208.54.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed 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. 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 presently 8.95%.

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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