LGT Capital Partners LTD. lessened its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,153,245 shares of the information services provider's stock after selling 101,678 shares during the quarter. Alphabet makes up 7.9% of LGT Capital Partners LTD.'s investment portfolio, making the stock its 2nd largest holding. LGT Capital Partners LTD.'s holdings in Alphabet were worth $178,338,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Mystic Asset Management Inc. boosted its position in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after acquiring an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co boosted its position in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after acquiring an additional 80 shares in the last quarter. Rockbridge Capital Management LLC acquired a new position in shares of Alphabet during the 4th quarter worth about $3,119,000. Cypress Capital LLC boosted its position in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after acquiring an additional 563 shares in the last quarter. Finally, Optivise Advisory Services LLC boosted its position in shares of Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after acquiring an additional 403 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction on 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 directly owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 274,219 shares of company stock valued at $49,674,273. Corporate insiders own 11.55% of the company's stock.
Alphabet Stock Performance
Shares of NASDAQ GOOGL traded down $1.03 during midday trading on Wednesday, hitting $202.31. 9,922,316 shares of the company's stock were exchanged, compared to its average volume of 36,638,750. 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 stock's 50 day moving average price is $182.27 and its 200-day moving average price is $173.02. The firm has a market cap of $2.45 trillion, a P/E ratio of 21.57, a PEG ratio of 1.36 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96,428,000 billion during 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%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio is currently 8.95%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. Wedbush upped their price objective on Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Rosenblatt Securities upped their target price on Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Barclays increased their price objective on Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Roth Capital increased their target price on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, JMP Securities increased their target price on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $211.53.
Check Out Our Latest Research Report on GOOGL
Alphabet 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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