Alphabet Inc. $GOOGL Shares Sold by Nan Shan Life Insurance Co. Ltd.

Key Points

• Nan Shan Life Insurance Co. Ltd. has reduced its stake in Alphabet Inc. by 47.1%, now holding about 311,956 shares valued at approximately $48.24 million, making it the firm's 24th largest holding.
• Insider trading activity includes CEO Sundar Pichai selling 32,500 shares for approximately $6.5 million, representing a 1.30% decrease in his position.
• Alphabet declared a quarterly dividend of $0.21 per share, indicating an annualized payout of $0.84, which equates to a 0.4% dividend yield for shareholders.

Nan Shan Life Insurance Co. Ltd. lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 47.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 311,956 shares of the information services provider's stock after selling 278,130 shares during the quarter. Alphabet comprises about 1.1% of Nan Shan Life Insurance Co. Ltd.'s portfolio, making the stock its 24th largest position. Nan Shan Life Insurance Co. Ltd.'s holdings in Alphabet were worth $48,241,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. raised its holdings in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares during the period. von Borstel & Associates Inc. bought a new position in Alphabet in the 1st quarter valued at $28,000. IMA Advisory Services Inc. purchased a new stake in Alphabet in the first quarter worth $28,000. NBZ Investment Advisors LLC lifted its position in shares of Alphabet by 85.7% during the first 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 last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $39,000. Institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated 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 transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the transaction, the director directly owned 6,316 shares of the company's stock, valued at $1,287,137.64. The trade was a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,719 shares of company stock valued at $47,223,172 over the last quarter. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded down $1.74 during mid-day trading on Tuesday, hitting $206.75. The stock had a trading volume of 12,821,816 shares, compared to its average volume of 36,182,297. The firm has a market cap of $2.50 trillion, a PE ratio of 22.02, a PEG ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a 50 day moving average of $187.44 and a two-hundred day moving average of $173.28. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $210.52.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. Research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent analyst reports. Citigroup raised their price target on shares of Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Loop Capital reissued a "hold" rating and set a $190.00 target price (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Truist Financial reaffirmed a "buy" rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, July 2nd. KeyCorp increased their price objective on shares of Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley boosted their price objective on shares of Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.

Alphabet 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.