Mirabaud & Cie SA Cuts Stake in Alphabet Inc. $GOOGL

Key Points

• Mirabaud & Cie SA has reduced its stake in Alphabet Inc. by 20.8%, owning 53,939 shares after selling 14,195 shares in the last quarter.
• Alphabet recently announced a quarterly dividend of $0.21, to be paid on September 15th, with an annualized yield of 0.3%.
• Various analysts have raised their target prices for Alphabet, with a consensus rating of "Moderate Buy" and an average target price of $221.44.

Mirabaud & Cie SA reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 20.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,939 shares of the information services provider's stock after selling 14,195 shares during the quarter. Alphabet comprises approximately 3.0% of Mirabaud & Cie SA's holdings, making the stock its 11th largest position. Mirabaud & Cie SA's holdings in Alphabet were worth $9,506,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Guardian Wealth Management Inc. grew its holdings in shares of Alphabet by 242.9% in the first 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 in the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the first quarter valued at $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% in the first 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 in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet in the first quarter valued at $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the sale, the director owned 6,916 shares in the company, valued at $1,383,200. The trade was a 12.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock worth $49,208,380 over the last ninety days. 11.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GOOGL shares. Sanford C. Bernstein raised their target price on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Rosenblatt Securities raised their target price on shares of Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, JMP Securities raised their target price on shares of Alphabet from $225.00 to $250.00 and gave the company a "market outperform" rating in a report on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $221.44.

Alphabet Price Performance

GOOGL opened at $240.80 on Monday. The business's 50-day moving average is $201.89 and its two-hundred day moving average is $177.58. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $242.25. 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 capitalization of $2.91 trillion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01.

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

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Alphabet 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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