Ninety One SA PTY Ltd Has $19.19 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Ninety One SA PTY Ltd raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 69.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,043 shares of the information services provider's stock after purchasing an additional 51,410 shares during the period. Alphabet accounts for approximately 3.6% of Ninety One SA PTY Ltd's holdings, making the stock its 8th biggest position. Ninety One SA PTY Ltd's holdings in Alphabet were worth $19,185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Group Ltd. raised its position in shares of Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock worth $299,000 after buying an additional 78 shares in the last quarter. Eagle Capital Management LLC raised its position in shares of Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after buying an additional 371 shares in the last quarter. Brighton Jones LLC raised its position in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after buying an additional 506 shares in the last quarter. Finally, Highview Capital Management LLC DE raised its position in shares of Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after buying an additional 1,003 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 400 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the transaction, the director directly owned 6,013 shares in the company, valued at $1,094,245.74. This trade represents a 6.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 9,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the transaction, the director owned 255,400 shares in the company, valued at approximately $44,695,000. This represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 215,843 shares of company stock valued at $37,288,490. 11.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent analyst reports. JMP Securities upgraded shares of Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 price target on the stock in a research report on Friday, June 27th. Stifel Nicolaus dropped their target price on shares of Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Cantor Fitzgerald boosted their target price on shares of Alphabet from $171.00 to $196.00 and gave the stock a "neutral" rating in a report on Wednesday. Wells Fargo & Company boosted their target price on shares of Alphabet from $175.00 to $177.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Finally, Mizuho dropped their target price on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Ten research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $201.41.

Alphabet Trading Up 0.3%

Shares of Alphabet stock traded up $0.61 on Thursday, hitting $183.58. The stock had a trading volume of 31,918,761 shares, compared to its average volume of 32,090,183. The stock has a 50 day moving average of $172.26 and a 200 day moving average of $173.15. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market capitalization of $2.23 trillion, a P/E ratio of 20.47, a PEG ratio of 1.28 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter in the prior year, the firm posted $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.

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.