Tocqueville Asset Management L.P. Has $106.91 Million Stock Holdings in Alphabet Inc. $GOOG

Key Points

• Tocqueville Asset Management L.P. reduced its holdings in Alphabet Inc. by 1.9%, selling 12,952 shares in the 1st quarter, leaving it with 684,339 shares valued at approximately $106.9 million.
• The stock currently has a consensus rating of "Moderate Buy" among analysts, with an average price target of $215.19.
• Alphabet announced a quarterly dividend of $0.21 per share, representing an annualized yield of 0.4%, set to be paid on September 15th.

Tocqueville Asset Management L.P. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 684,339 shares of the information services provider's stock after selling 12,952 shares during the period. Alphabet accounts for 1.7% of Tocqueville Asset Management L.P.'s holdings, making the stock its 9th biggest position. Tocqueville Asset Management L.P.'s holdings in Alphabet were worth $106,914,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOG. Brighton Jones LLC grew its holdings in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of Alphabet by 4.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock worth $96,465,000 after purchasing an additional 20,855 shares in the last quarter. Capital International Sarl grew its holdings in shares of Alphabet by 7.0% during the 4th quarter. Capital International Sarl now owns 412,680 shares of the information services provider's stock worth $78,591,000 after purchasing an additional 26,890 shares in the last quarter. Capital International Investors grew its holdings in shares of Alphabet by 6.7% during the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after purchasing an additional 5,758,244 shares in the last quarter. Finally, Capital Group Private Client Services Inc. grew its holdings in shares of Alphabet by 2.2% during the 4th quarter. Capital Group Private Client Services Inc. now owns 2,040,236 shares of the information services provider's stock worth $388,543,000 after purchasing an additional 43,468 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 274,819 shares of company stock worth $49,796,547 over the last ninety days. 12.99% of the stock is owned by insiders.

Alphabet Trading Up 0.5%

Alphabet stock traded up $1.09 during trading hours on Friday, hitting $204.91. The stock had a trading volume of 21,099,072 shares, compared to its average volume of 24,041,420. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.48 trillion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 1.38 and a beta of 1.02. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The business's 50 day simple moving average is $185.21 and its 200-day simple moving average is $174.52.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 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 the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the company earned $1.89 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Westpark Capital reissued a "buy" rating and set a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Pivotal Research increased their target price on Alphabet from $225.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. UBS Group increased their target price on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Oppenheimer reissued an "outperform" rating and set a $235.00 target price (up from $220.00) on shares of Alphabet in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. upped their price objective on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $215.19.

About Alphabet

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.