Ninety One UK Ltd acquired a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 192,124 shares of the information services provider's stock, valued at approximately $34,081,000.
Several other large investors have also recently added to or reduced their stakes in GOOG. Robbins Farley grew its stake in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider's stock worth $28,000 after acquiring an additional 60 shares in the last quarter. Principia Wealth Advisory LLC boosted its holdings in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new position in Alphabet during the 1st quarter worth $26,000. Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet during the 1st quarter worth about $32,000. Finally, Goodman Advisory Group LLC acquired a new stake in Alphabet in the 1st quarter valued at about $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director owned 5,716 shares in the company, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 103 shares of the business's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the transaction, the director owned 17,284 shares in the company, valued at $4,202,258.92. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock worth $59,135,475 over the last 90 days. 12.99% of the stock is owned by corporate insiders.
Alphabet Trading Up 0.4%
NASDAQ:GOOG opened at $246.43 on Friday. The stock's 50 day moving average price is $220.84 and its 200 day moving average price is $186.43. The company has a market capitalization of $2.98 trillion, a PE ratio of 26.24, a P/E/G ratio of 1.66 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. 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 issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio is 8.95%.
Analysts Set New Price Targets
A number of research firms recently weighed in on GOOG. Robert W. Baird upped their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. Morgan Stanley boosted their target price on shares of Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Five analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $235.33.
Read Our Latest Analysis on GOOG
About Alphabet
(
Free Report)
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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