Alphabet Inc. (NASDAQ:GOOGL) is Los Angeles Capital Management LLC's 9th Largest Position

Key Points

• Los Angeles Capital Management LLC reduced its stake in Alphabet Inc. by 4.3%, with holdings valued at approximately $436 million after selling 127,028 shares.
• Alphabet's recent quarterly earnings exceeded analysts' estimates, reporting $2.81 earnings per share against a forecast of $2.02.
• The company announced a quarterly dividend of $0.21 per share, reflecting an annualized yield of 0.44%, with the ex-dividend date set for September 8th.

Los Angeles Capital Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,822,503 shares of the information services provider's stock after selling 127,028 shares during the quarter. Alphabet comprises about 1.9% of Los Angeles Capital Management LLC's investment portfolio, making the stock its 9th biggest position. Los Angeles Capital Management LLC's holdings in Alphabet were worth $436,472,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. FMR LLC lifted its position in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares during the last quarter. Norges Bank acquired a new position in Alphabet during the 4th quarter valued at about $24,383,677,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Alphabet by 8.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after buying an additional 7,574,417 shares during the period. Capital Research Global Investors lifted its position in shares of Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Northern Trust Corp raised its position in Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after acquiring an additional 10,135,430 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Down 2.3%

Shares of GOOGL traded down $4.49 during mid-day trading on Thursday, hitting $192.04. 18,906,998 shares of the company's stock were exchanged, compared to its average volume of 36,930,727. 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 company has a market cap of $2.33 trillion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 1.30 and a beta of 1.00. The stock's 50-day moving average is $177.49 and its 200-day moving average is $173.11. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.

Alphabet Announces Dividend

The firm also recently announced 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. This represents a $0.84 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

Several research firms have recently commented on GOOGL. Truist Financial reissued a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. Wedbush upped their price target on Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research note 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 research report on Friday, June 27th. Mizuho reduced their target price on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Sanford C. Bernstein raised their target price on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research report on Tuesday, July 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $211.39.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 400 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the sale, the director owned 6,013 shares of the company's stock, valued at $1,094,245.74. The trade was a 6.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 249,298 shares of company stock valued at $43,505,967. 11.64% of the stock is owned by corporate insiders.

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.