Lbp Am Sa Reduces Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Lbp Am Sa reduced its holdings in Alphabet Inc. by 46.8%, now owning 482,213 shares valued at approximately $84.98 million.
• Analysts have set new price targets for Alphabet, with JMP Securities increasing their target from $250.00 to $290.00 and several firms reaffirming "buy" ratings amidst varied outlooks.
• Alphabet's recent quarterly earnings showed a reported EPS of $2.31, surpassing estimates, and the firm also declared a quarterly dividend of $0.21 per share, representing a yield of 0.3%.

Lbp Am Sa lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 46.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 482,213 shares of the information services provider's stock after selling 424,509 shares during the quarter. Alphabet makes up approximately 1.2% of Lbp Am Sa's holdings, making the stock its 17th biggest position. Lbp Am Sa's holdings in Alphabet were worth $84,980,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Missouri Trust & Investment Co raised its stake in shares of Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider's stock worth $2,981,000 after buying an additional 55 shares during the period. AM Investment Strategies LLC increased its holdings in 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 in the last quarter. Bfsg LLC increased its holdings in Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider's stock worth $1,838,000 after acquiring an additional 59 shares in the last quarter. Enzi Wealth raised its stake in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after acquiring an additional 62 shares during the period. Finally, Powers Advisory Group LLC lifted its holdings in 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 purchasing an additional 62 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JMP Securities increased their price objective on shares of Alphabet from $250.00 to $290.00 and gave the stock a "market outperform" rating in a research note on Friday, September 19th. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research note on Saturday, September 27th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. BMO Capital Markets upped their price objective on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $240.76.

Alphabet Price Performance

Shares of Alphabet stock opened at $250.43 on Tuesday. The firm has a market cap of $3.03 trillion, a PE ratio of 26.67, a PEG ratio of 1.66 and a beta of 1.00. The stock has a 50 day moving average of $222.41 and a 200 day moving average of $186.72. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio is presently 8.95%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the sale, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's 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 sale, the director owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% 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 in the last three months. Corporate insiders own 11.64% of the company's stock.

About Alphabet

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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