Mirae Asset Global Investments Co. Ltd. Has $204.02 Million Holdings in Alphabet Inc. $GOOG

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its holdings in Alphabet Inc. by 5.8% during Q2, owning 1,150,136 shares valued at approximately $204 million.
• Several large investors, including Vanguard Group Inc. and JPMorgan Chase & Co., have significantly raised their positions in Alphabet shares, underscoring increased institutional interest.
• Analysts have varied opinions on Alphabet's stock, with price targets ranging from $200 to $300 and a consensus rating of "Moderate Buy" amid recent earnings surpassing expectations.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,150,136 shares of the information services provider's stock after acquiring an additional 62,937 shares during the period. Alphabet comprises 0.7% of Mirae Asset Global Investments Co. Ltd.'s holdings, making the stock its 18th largest holding. Mirae Asset Global Investments Co. Ltd.'s holdings in Alphabet were worth $204,023,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. Kingstone Capital Partners Texas LLC boosted its position in shares of Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Alphabet by 5.4% during the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock worth $3,334,852,000 after acquiring an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Alphabet by 2.2% during the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider's stock worth $3,183,979,000 after acquiring an additional 440,526 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOG. Scotiabank increased their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 22nd. Pivotal Research increased their price objective on shares of Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Weiss Ratings reissued a "buy (b)" rating on shares of Alphabet in a research note on Saturday, September 27th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Five analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.33.

Alphabet Stock Up 0.0%

GOOG opened at $246.45 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 company's 50-day moving average is $221.89 and its 200 day moving average is $187.15. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. The firm has a market capitalization of $2.98 trillion, a P/E ratio of 26.25, a PEG ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 for the quarter, compared to analyst estimates of $93.67 billion. During the same period last year, the firm earned $1.89 earnings per share. The firm's revenue was up 13.8% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm'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 transaction, the director directly 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 disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock valued at $59,135,475 over the last ninety days. Corporate insiders own 12.99% of the company's stock.

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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