Mn Services Vermogensbeheer B.V. Lowers Stake in Alphabet Inc. $GOOG

Key Points

• Mn Services Vermogensbeheer B.V. reduced its stake in Alphabet Inc. by 2.6%, now holding 1,591,080 shares after selling 41,800 shares in the second quarter.
• Analysts maintain a generally positive outlook on Alphabet, with a consensus price target of $227.56 and several firms lifting their price objectives recently.
• Insiders, including Director Kavitark Ram Shriram and CEO Sundar Pichai, sold significant shares during the last quarter, indicating potential liquidity moves within the company with insider ownership now at 12.99%.

Mn Services Vermogensbeheer B.V. cut its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,591,080 shares of the information services provider's stock after selling 41,800 shares during the quarter. Alphabet comprises about 2.0% of Mn Services Vermogensbeheer B.V.'s holdings, making the stock its 8th largest position. Mn Services Vermogensbeheer B.V.'s holdings in Alphabet were worth $282,242,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after acquiring an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in Alphabet by 4.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock valued at $96,465,000 after purchasing an additional 20,855 shares during the last quarter. DCM Advisors LLC lifted its position in shares of Alphabet by 3.8% during the 4th quarter. DCM Advisors LLC now owns 15,060 shares of the information services provider's stock worth $2,868,000 after purchasing an additional 547 shares during the last quarter. 49 Wealth Management LLC boosted its holdings in shares of Alphabet by 15.9% in the 4th quarter. 49 Wealth Management LLC now owns 8,854 shares of the information services provider's stock valued at $1,686,000 after purchasing an additional 1,212 shares during the last quarter. Finally, Poehling Capital Management INC. increased its position in shares of Alphabet by 4.8% in the 4th quarter. Poehling Capital Management INC. now owns 64,588 shares of the information services provider's stock worth $12,300,000 after purchasing an additional 2,974 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the transaction, the director directly owned 240,400 shares in the company, valued at approximately $44,656,704. This represents a 5.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 258,088 shares of company stock worth $52,405,304. Company insiders own 12.99% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on GOOG shares. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Barclays reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. The Goldman Sachs Group restated a "buy" rating and set a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. JPMorgan Chase & Co. raised their target price on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Finally, Scotiabank lifted their price target on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Tuesday, July 22nd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $230.35.

Alphabet Trading Down 1.0%

NASDAQ:GOOG traded down $2.52 on Monday, reaching $252.72. 7,434,447 shares of the company's stock were exchanged, compared to its average volume of 23,938,211. The business has a fifty day moving average of $210.08 and a 200-day moving average of $181.70. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.06 trillion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the prior year, the company earned $1.89 earnings per share. The company's revenue was up 13.8% compared to the same quarter last year. As a group, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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