Mirae Asset Global Investments Co. Ltd. raised its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 30.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,829,172 shares of the information services provider's stock after buying an additional 1,123,990 shares during the quarter. Alphabet comprises about 2.0% of Mirae Asset Global Investments Co. Ltd.'s portfolio, making the stock its 9th biggest holding. Mirae Asset Global Investments Co. Ltd.'s holdings in Alphabet were worth $746,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently bought and sold shares of the stock. FMR LLC boosted its position 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 buying an additional 22,100,902 shares during the period. Norges Bank purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $24,383,677,000. Price T Rowe Associates Inc. MD increased its stake in shares of Alphabet by 8.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after buying an additional 7,574,417 shares during the period. Capital Research Global Investors raised its holdings in 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 acquiring an additional 10,037,685 shares in the last quarter. Finally, Northern Trust Corp lifted 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 worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Price Performance
Shares of Alphabet stock traded up $0.44 during trading on Thursday, reaching $179.08. The company's stock had a trading volume of 21,689,729 shares, compared to its average volume of 31,462,867. The business has a 50 day moving average price of $167.96 and a 200-day moving average price of $174.20. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a market capitalization of $2.17 trillion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 1.24 and a beta of 1.00. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the company earned $1.89 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 9.36%.
Insider Buying and Selling
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total value of $5,742,100.00. Following the completion of the transaction, the chief executive officer directly owned 2,555,196 shares of the company's stock, valued at approximately $451,452,029.28. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the sale, the director owned 255,400 shares of the company's stock, valued at approximately $44,695,000. The trade was a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 183,143 shares of company stock valued at $30,529,028. Corporate insiders own 11.64% of the company's stock.
Analyst Ratings Changes
GOOGL has been the topic of a number of recent analyst reports. Westpark Capital reissued a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Thursday, May 8th. Royal Bank Of Canada reissued an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price objective on Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Piper Sandler increased their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, Jefferies Financial Group dropped their target price on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Ten research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $199.95.
Read Our Latest Stock Report on GOOGL
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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