Lingohr Asset Management GmbH Decreases Stock Position in Alphabet Inc. $GOOGL

Key Points

• Lingohr Asset Management GmbH significantly reduced its stake in Alphabet Inc. by 90.1% in Q2, leaving the firm with 7,837 shares, which represent 2.5% of its portfolio.
• Numerous other institutional investors have also adjusted their positions in Alphabet, including Guardian Wealth Management, which increased its stake by 242.9% in Q1.
• Insider trading activity saw significant sales, including CEO Sundar Pichai, who sold 32,500 shares valued at approximately $7.47 million, reducing his stake by 1.32%.

Lingohr Asset Management GmbH trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 90.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,837 shares of the information services provider's stock after selling 71,604 shares during the period. Alphabet accounts for 2.5% of Lingohr Asset Management GmbH's portfolio, making the stock its 7th largest holding. Lingohr Asset Management GmbH's holdings in Alphabet were worth $1,381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. raised its position in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at $28,000. NBZ Investment Advisors LLC raised its position in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at $39,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. 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 the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,710 shares of company stock worth $49,208,380. Corporate insiders own 11.55% of the company's stock.

Alphabet Trading Up 0.2%

Shares of GOOGL opened at $240.80 on Monday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $242.25. The company has a 50-day moving average of $201.89 and a 200 day moving average of $177.58. The firm has a market capitalization of $2.91 trillion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.62 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

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

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 yield of 0.3%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOGL. 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 report on Thursday, July 24th. Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Cantor Fitzgerald lifted their price target on shares of Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. KeyCorp lifted their price target on shares of Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Finally, DA Davidson lifted their price target on shares of Alphabet from $180.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, September 2nd. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.44.

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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