MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $59.76 Million Stake in Alphabet Inc. $GOOG

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH holds a $59.76 million stake in Alphabet Inc., representing a 2.4% decrease in holdings during Q2.
• Alphabet reported a 13.8% increase in quarterly revenue year-over-year, totaling $96.43 billion, while earnings per share came in at $2.31, exceeding expectations.
• The company recently announced a quarterly dividend of $0.21 per share, with a current dividend yield of 0.3%.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 336,864 shares of the information services provider's stock after selling 8,422 shares during the period. Alphabet accounts for about 1.7% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's portfolio, making the stock its 19th largest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Alphabet were worth $59,756,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GOOG. Independence Bank of Kentucky boosted its holdings in shares of Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after buying an additional 1,376 shares during the last quarter. RDA Financial Network raised its position in Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock worth $1,968,000 after acquiring an additional 554 shares in the last quarter. Fermata Advisors LLC lifted its stake in Alphabet by 2.7% in the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock valued at $1,527,000 after acquiring an additional 259 shares during the last quarter. Oldfather Financial Services LLC acquired a new stake in Alphabet in the second quarter valued at $213,000. Finally, Members Trust Co grew its position in shares of Alphabet by 84.7% in the 1st quarter. Members Trust Co now owns 4,999 shares of the information services provider's stock valued at $781,000 after acquiring an additional 2,292 shares during the period. Institutional investors own 27.26% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $247.18 on Friday. 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 firm has a market cap of $2.99 trillion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.66 and a beta of 1.01. The stock's fifty day moving average price is $216.61 and its two-hundred day moving average price is $184.28. Alphabet Inc. has a one year low of $142.66 and a one year high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. 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 analysts' expectations of $93.67 billion. During the same quarter in the previous year, the business posted $1.89 earnings per share. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. On average, equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director directly owned 240,400 shares in the company, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock valued at $52,405,304 in the last quarter. Corporate insiders own 12.99% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Barclays reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. UBS Group raised their price objective on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Finally, Scotiabank upped their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a report on Tuesday, July 22nd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $230.35.

Alphabet Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.