Temasek Holdings Private Ltd reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,254,209 shares of the information services provider's stock after selling 509,341 shares during the quarter. Alphabet comprises approximately 2.0% of Temasek Holdings Private Ltd's investment portfolio, making the stock its 16th largest position. Temasek Holdings Private Ltd's holdings in Alphabet were worth $503,231,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. boosted its stake in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after buying an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co grew its position in Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after acquiring an additional 80 shares in the last quarter. Rockbridge Capital Management LLC purchased a new position in Alphabet in the fourth quarter valued at $3,119,000. Cypress Capital LLC boosted its holdings in Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after purchasing an additional 563 shares during the period. Finally, Bridgeway Capital Management LLC boosted its holdings in Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock valued at $13,637,000 after purchasing an additional 13,371 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Performance
Shares of NASDAQ GOOGL traded up $5.59 during trading hours on Tuesday, reaching $239.63. The stock had a trading volume of 37,672,216 shares, compared to its average volume of 34,417,184. The firm has a market cap of $2.90 trillion, a price-to-earnings ratio of 24.92, a PEG ratio of 1.57 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $240.47. The firm has a 50-day moving average of $196.95 and a 200-day moving average of $175.73.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The business 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%. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.
Wall Street Analyst Weigh In
GOOGL has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price objective on Alphabet from $220.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 3rd. Oppenheimer reissued an "outperform" rating and set a $270.00 price objective (up from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Citizens Jmp raised Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research report on Friday, June 27th. Wells Fargo & Company boosted their price objective on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Finally, BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. 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. According to data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $221.44.
Read Our Latest Analysis on GOOGL
Insider Transactions at Alphabet
In other Alphabet news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total transaction of $122,274.00. Following the completion of the transaction, the director owned 6,316 shares in the company, valued at approximately $1,287,137.64. The trade was a 8.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $49,208,380 in the last three months. 11.55% of the stock is owned by company insiders.
Alphabet Company Profile
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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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