Navera Investment Management Ltd. Has $84.83 Million Stock Holdings in Alphabet Inc. $GOOG

Key Points

• Navera Investment Management Ltd. reduced its holdings in Alphabet Inc. by 1.7%, now owning 478,312 shares valued at approximately $84.83 million.
• CEO Sundar Pichai recently sold 32,500 shares of Alphabet stock for about $5.99 million, resulting in a 1.27% decrease in his ownership.
• Recent analyst ratings show a consensus target price of $241.00 for Alphabet, with multiple brokerage firms issuing "buy" ratings amid growing investor interest.

Navera Investment Management Ltd. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 478,312 shares of the information services provider's stock after selling 8,403 shares during the period. Alphabet comprises 1.5% of Navera Investment Management Ltd.'s holdings, making the stock its 22nd largest position. Navera Investment Management Ltd.'s holdings in Alphabet were worth $84,828,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. ACT Advisors LLC. boosted its stake in shares of Alphabet by 3.5% during the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider's stock worth $288,000 after buying an additional 55 shares during the last quarter. LongView Wealth Management boosted its stake in shares of Alphabet by 1.1% during the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider's stock worth $909,000 after buying an additional 56 shares during the last quarter. Kooman & Associates raised its holdings in shares of Alphabet by 1.4% in the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider's stock valued at $732,000 after purchasing an additional 56 shares during the period. Colton Groome Financial Advisors LLC raised its holdings in shares of Alphabet by 3.4% in the 2nd quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider's stock valued at $309,000 after purchasing an additional 57 shares during the period. Finally, Brueske Advisory Services LLC raised its holdings in shares of Alphabet by 2.7% in the 2nd quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider's stock valued at $389,000 after purchasing an additional 58 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's 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 $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 276,738 shares of company stock valued at $59,135,475. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOOG. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Alphabet in a report on Wednesday. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Raymond James Financial reaffirmed an "outperform" rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Finally, Cowen reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $241.00.

Alphabet Trading Down 1.9%

Shares of GOOG stock opened at $237.49 on Friday. The firm has a 50 day moving average price of $226.97 and a two-hundred day moving average price of $189.66. 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 company has a market capitalization of $2.87 trillion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70.

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

Alphabet Dividend Announcement

The firm 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 of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

About Alphabet

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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