SRB Corp reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 45.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 234,211 shares of the information services provider's stock after selling 193,882 shares during the quarter. Alphabet accounts for approximately 2.4% of SRB Corp's holdings, making the stock its 18th biggest position. SRB Corp's holdings in Alphabet were worth $36,218,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after purchasing an additional 14,307,345 shares during the period. Northern Trust Corp grew its stake in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. Wellington Management Group LLP grew its stake in shares of Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock valued at $12,503,291,000 after purchasing an additional 9,042,271 shares during the period. Invesco Ltd. grew its stake in shares of Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock valued at $6,749,806,000 after purchasing an additional 593,345 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock valued at $6,153,481,000 after purchasing an additional 727,335 shares during the period. 40.03% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
GOOGL has been the topic of a number of analyst reports. Truist Financial reaffirmed a "buy" rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, July 2nd. BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. Loop Capital reaffirmed a "hold" rating and set a $190.00 price objective (up from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Bank of America lifted their price objective on Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, KeyCorp lifted their price objective on Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $211.53.
Read Our Latest Stock Analysis on GOOGL
Alphabet Stock Up 3.2%
Shares of GOOGL opened at $206.09 on Friday. The stock has a market capitalization of $2.49 trillion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $208.54. The business's 50 day simple moving average is $186.81 and its 200-day simple moving average is $173.37. 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 business had revenue of $96,428,000 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, equities analysts expect 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. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.
Insider Transactions at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 2,462,392 shares of the company's stock, valued at $492,281,408.64. This represents a 1.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director directly owned 240,400 shares in the company, valued at $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,719 shares of company stock valued at $47,223,172 over the last 90 days. Insiders own 11.64% of the company's stock.
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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