Powszechne Towarzystwo Emerytalne Allianz Polska S.A. Has $26.93 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Powszechne Towarzystwo Emerytalne Allianz Polska S.A. significantly increased its stake in Alphabet Inc. by purchasing 122,000 shares, bringing its total holdings to 174,160 shares, which represent approximately 12.1% of its portfolio.
• Alphabet reported $96.43 billion in revenue for the last quarter, exceeding analyst expectations, and posted an earnings per share (EPS) of $2.31, up from $1.89 year-over-year.
• Insider trading activity noted a decrease in ownership for directors, with Kavitark Ram Shriram selling 18,566 shares valued at over $3.4 million, and John L. Hennessy selling 400 shares.

Powszechne Towarzystwo Emerytalne Allianz Polska S.A. boosted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 233.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 174,160 shares of the information services provider's stock after buying an additional 122,000 shares during the period. Alphabet accounts for approximately 12.1% of Powszechne Towarzystwo Emerytalne Allianz Polska S.A.'s holdings, making the stock its 3rd largest holding. Powszechne Towarzystwo Emerytalne Allianz Polska S.A.'s holdings in Alphabet were worth $26,932,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Principia Wealth Advisory LLC raised its holdings in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after buying an additional 85 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in Alphabet during the 1st quarter worth approximately $26,000. LSV Asset Management purchased a new stake in Alphabet during the 4th quarter worth approximately $27,000. Goodman Advisory Group LLC purchased a new stake in Alphabet during the 1st quarter worth approximately $32,000. Finally, Graybill Wealth Management LTD. purchased a new stake in Alphabet during the 1st quarter worth approximately $44,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOG traded down $2.91 during midday trading on Friday, reaching $189.95. The stock had a trading volume of 21,211,425 shares, compared to its average volume of 25,077,368. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm's 50 day moving average price is $179.37 and its 200-day moving average price is $174.53. The company has a market capitalization of $2.31 trillion, a P/E ratio of 20.23, a P/E/G ratio of 1.26 and a beta of 1.02.

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

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's payout ratio is 8.95%.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 400 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the transaction, the director directly owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. The trade was a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,399 shares of company stock valued at $43,525,794 over the last three months. Company insiders own 12.99% of the company's stock.

Analyst Ratings Changes

GOOG has been the topic of several analyst reports. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. UBS Group lifted their price objective on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. The Goldman Sachs Group restated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Piper Sandler restated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $235.00 target price (up previously from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.

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.