Mondrian Investment Partners LTD Raises Position in Alphabet Inc. $GOOGL

Key Points

• Mondrian Investment Partners LTD increased its stake in Alphabet Inc. by 21.6%, acquiring an additional 149,291 shares, bringing their total holdings to 839,179 shares valued at approximately $129.77 million.
• CEO Sundar Pichai sold 32,500 shares of Alphabet stock for about $5.8 million, resulting in a 1.25% decrease in his ownership, while insiders have collectively sold 274,819 shares valued at nearly $50 million over the past 90 days.
• Alphabet announced a quarterly dividend of $0.21 per share, with the payment date set for September 15th, representing an annual yield of 0.4%.

Mondrian Investment Partners LTD grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 21.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 839,179 shares of the information services provider's stock after acquiring an additional 149,291 shares during the period. Alphabet comprises approximately 2.2% of Mondrian Investment Partners LTD's holdings, making the stock its 15th largest position. Mondrian Investment Partners LTD's holdings in Alphabet were worth $129,771,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Nia Impact Advisors LLC lifted its position in Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after purchasing an additional 59 shares during the period. Enzi Wealth raised its stake in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after acquiring an additional 62 shares in the last quarter. Whipplewood Advisors LLC increased its stake in Alphabet by 1.2% in the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after purchasing an additional 67 shares during the period. Aspire Capital Advisors LLC increased its stake in Alphabet by 1.0% in the first quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock valued at $1,086,000 after purchasing an additional 67 shares during the period. Finally, Rainey & Randall Wealth Advisors Inc. increased its stake in Alphabet by 2.1% in the first quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock valued at $496,000 after purchasing an additional 67 shares during the period. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

GOOGL traded up $0.5420 during trading on Thursday, reaching $199.8620. 10,988,402 shares of the company's stock were exchanged, compared to its average volume of 36,272,508. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. 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 business has a 50 day moving average price of $185.70 and a 200 day moving average price of $173.38. The company has a market capitalization of $2.42 trillion, a P/E ratio of 21.28, a PEG ratio of 1.36 and a beta of 1.01.

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 the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the completion of the sale, the chief executive officer owned 2,494,892 shares of the company's stock, valued at approximately $489,572,657.16. This represents a 1.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value 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 represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 222,219 shares of company stock worth $40,725,772. 11.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GOOGL. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Piper Sandler increased their price objective on shares of Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. BMO Capital Markets increased their price objective on shares of Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Rosenblatt Securities increased their price objective on shares of Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research report on Thursday. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $211.53.

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.