Robeco Institutional Asset Management B.V. Has $458.37 Million Stake in Alphabet Inc. $GOOG

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Alphabet Inc. by 26.4% during the second quarter, bringing its total holdings to approximately $458.37 million.
• Alphabet reported $2.31 earnings per share (EPS) for the last quarter, surpassing expectations, with a revenue of $96.43 billion, a 13.8% year-over-year increase.
• The company declared a quarterly dividend of $0.21 per share, equivalent to an annual yield of 0.3%, with a payout ratio of 8.95%.

Robeco Institutional Asset Management B.V. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 26.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,583,976 shares of the information services provider's stock after purchasing an additional 540,184 shares during the period. Alphabet comprises 0.7% of Robeco Institutional Asset Management B.V.'s holdings, making the stock its 18th largest holding. Robeco Institutional Asset Management B.V.'s holdings in Alphabet were worth $458,372,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GOOG. Kingstone Capital Partners Texas LLC lifted its position in shares of Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares during the period. Nuveen LLC acquired a new position in Alphabet in the first quarter valued at about $2,622,943,000. Vanguard Group Inc. lifted its position in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after purchasing an additional 9,687,855 shares during the period. JPMorgan Chase & Co. grew its stake in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio bought a new position in Alphabet in the 1st quarter valued at about $369,713,000. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 0.0%

NASDAQ:GOOG opened at $246.45 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $256.70. 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 company has a market cap of $2.98 trillion, a PE ratio of 26.25, a P/E/G ratio of 1.66 and a beta of 1.00. The firm's 50 day simple moving average is $221.89 and its 200 day simple moving average is $187.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 EPS. On average, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is 8.95%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director directly owned 5,716 shares in the company, valued at $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the firm's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider owned 42,985 shares of the company's stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 12.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Morgan Stanley upped their target price on Alphabet from $210.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday. KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday, September 3rd. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Scotiabank upped their price objective on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 22nd. Five investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $235.33.

Alphabet Company 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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