Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,987,851 shares of the information services provider's stock after selling 841,321 shares during the period. Alphabet accounts for 2.4% of Mirae Asset Global Investments Co. Ltd.'s portfolio, making the stock its 8th largest holding. Mirae Asset Global Investments Co. Ltd.'s holdings in Alphabet were worth $702,779,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Guardian Wealth Management Inc. increased its holdings in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the 1st quarter worth $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet during the 1st quarter worth about $28,000. NBZ Investment Advisors LLC boosted its stake 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 worth $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet during the 1st quarter worth about $39,000. 40.03% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages recently weighed in on GOOGL. Morgan Stanley set a $270.00 price objective on shares of Alphabet and gave the company an "overweight" rating in a report on Thursday, October 2nd. UBS Group boosted their price objective on shares of Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 22nd. BMO Capital Markets set a $294.00 target price on shares of Alphabet and gave the stock an "outperform" rating in a research report on Thursday. Finally, Jefferies Financial Group upped their price objective on shares of Alphabet from $230.00 to $285.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Five analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $244.62.
Check Out Our Latest Analysis on Alphabet
Insiders Place Their Bets
In other news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on 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 directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock valued at $59,135,475 over the last 90 days. 11.64% of the stock is owned by company insiders.
Alphabet Stock Performance
NASDAQ:GOOGL opened at $241.53 on Friday. The company has a fifty day moving average of $225.37 and a two-hundred day moving average of $188.04. The stock has a market capitalization of $2.92 trillion, a PE ratio of 25.72, a P/E/G ratio of 1.65 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio is currently 8.95%.
About Alphabet
(
Free Report)
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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