Mirabaud & Cie SA Acquires 8,043 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Mirabaud & Cie SA increased its holdings in Alphabet Inc. by 13.4% in the first quarter, acquiring an additional 8,043 shares, making Alphabet its 8th largest position worth approximately $10.54 million.
• Several institutional investors, including FMR LLC and GAMMA Investing LLC, have significantly increased their stakes in Alphabet, reflecting growing confidence in the company's future.
• Alphabet recently announced a quarterly dividend of $0.21 per share with an annual yield of 0.4%, highlighting its commitment to returning value to shareholders.

Mirabaud & Cie SA grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,134 shares of the information services provider's stock after buying an additional 8,043 shares during the quarter. Alphabet makes up 3.6% of Mirabaud & Cie SA's portfolio, making the stock its 8th largest position. Mirabaud & Cie SA's holdings in Alphabet were worth $10,536,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. FMR LLC lifted its stake in Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC increased its position in Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after buying an additional 15,968,487 shares during the last quarter. Northern Trust Corp raised its stake in Alphabet by 17.0% in 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 buying an additional 10,135,430 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 valued at $13,635,878,000 after buying an additional 10,037,685 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Alphabet by 15.9% in the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock valued at $12,503,291,000 after buying an additional 9,042,271 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Roth Capital boosted their target price on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Barclays lifted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Morgan Stanley increased their price objective on shares of Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Tigress Financial raised their target price on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company upped their price target on shares of Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Ten 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $211.53.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer 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 three months, insiders sold 273,219 shares of company stock worth $49,474,273. 11.64% of the stock is currently owned by insiders.

Alphabet Price Performance

GOOGL stock opened at $201.42 on Friday. The stock has a market cap of $2.44 trillion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 1.33 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. The company has a 50 day simple moving average of $180.89 and a 200 day simple moving average of $173.15. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. Research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

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.

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