Pensionfund Sabic Sells 4,300 Shares of Alphabet Inc. $GOOGL

Key Points

• Pensionfund Sabic reduced its holdings in Alphabet Inc. by 14.8%, selling 4,300 shares and now owning 24,700 shares, which make up about 1.1% of its portfolio.
• Several institutional investors have increased their positions in Alphabet, with Guardian Wealth Management raising its stake by 242.9%.
• Alphabet recently announced a quarterly dividend of $0.21 per share, with a dividend yield of 0.3%, reflecting a payout ratio of 8.95%.

Pensionfund Sabic lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,700 shares of the information services provider's stock after selling 4,300 shares during the period. Alphabet makes up about 1.1% of Pensionfund Sabic's portfolio, making the stock its 16th biggest holding. Pensionfund Sabic's holdings in Alphabet were worth $3,820,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. lifted its position in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after acquiring an additional 119 shares during the period. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at about $28,000. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC increased its stake in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research note on Friday, June 27th. KeyCorp increased their price target on Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Loop Capital reiterated a "hold" rating and issued a $190.00 price objective (up from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Wells Fargo & Company upped their price target on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. Finally, BMO Capital Markets upped their price target on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $221.44.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the transaction, the chief executive officer owned 2,462,392 shares of the company's stock, valued at approximately $492,281,408.64. This trade represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,710 shares of company stock worth $49,208,380. 11.64% of the stock is owned by company insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $240.80 on Friday. The business's fifty day moving average price is $201.89 and its 200 day moving average price is $177.48. The firm has a market capitalization of $2.91 trillion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $242.25. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL - 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 $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

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.

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